Credit Frontiers 2026

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schedule Thursday, April 23, 2026 | 9:15 AM - 4:30 PM EDT | Registration starts at 8:30 AM EDT

location_on Quorum by Convene, New York Map

Leveraged loans carry accumulated risk

Lyuba Petrova unpacks why leveraged loan default rates have exceeded high yield bond defaults, tracing the root cause to post-GFC capital flows into the loan market driven by yield, secured positioning, and low-duration appeal. With 40% of the leveraged loan universe now rated B3 or below versus only 20% in high yield, the sector entered the rate-hiking cycle with significant embedded risk. The impact on private credit, BDCs, and middle market CLOs is also assessed.

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Credit Frontiers 2026

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Leveraged loans carry accumulated risk

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