-

KBRA Releases Research – Private Credit: Medallia’s Looming Default Will Be Widely Dispersed

NEW YORK--(BUSINESS WIRE)--KBRA releases research examining the potential impact of Medallia's looming default on the private credit universe. Although this represents one of the larger term loans in the direct lending market—at nearly $3 billion—we conclude that KBRA-rated vehicles with exposure, as well as the broader direct lending market, are well positioned to absorb any potential losses.

Click here to view the report.

Recent Publications

About KBRA

KBRA, one of the major credit rating agencies, is registered in the U.S., EU, and the UK. KBRA is recognized as a Qualified Rating Agency in Taiwan, and is also a Designated Rating Organization for structured finance ratings in Canada. As a full-service credit rating agency, investors can use KBRA ratings for regulatory capital purposes in multiple jurisdictions.

Doc ID: 1014912

Contacts

John Sage, Senior Director
+1 646-731-1452
john.sage@kbra.com

William Cox, Chief Rating Officer
+1 646-731-2472
william.cox@kbra.com

Eric Neglia, Global Head of Corporate Portfolio Finance and Direct Lending
+1 646-731-2456
eric.neglia@kbra.com

Eric Hudson, Senior Managing Director, Co-Head of Global Structured Credit
+1 646-731-3320
eric.hudson@kbra.com

Andrew Giudici, Global Head of Corporate, Project, and Infrastructure Finance
+1 646-731-2372
andrew.giudici@kbra.com

Shane Olaleye, Senior Managing Director
+1 646-731-2432
shane.olaleye@kbra.com

Teri Seelig, Managing Director
+1 646-731-2386
teri.seelig@kbra.com

Peter Connolly, Senior Director
+81 3-6690-1113
peter.connolly@kbra.com

Media Contacts

Adam Tempkin, Senior Director of Communications
+1 646-731-1347
adam.tempkin@kbra.com

Matt Turner, Associate Director
+353 1 588 1231
matt.turner@kbra.com

Business Development Contacts

Constantine Schidlovsky, Senior Director
+1 646-731-1338
constantine.schidlovsky@kbra.com

Michael Caro, Senior Director
+1 646-731-2382
michael.caro@kbra.com

Kroll Bond Rating Agency, LLC

Details
Headquarters: New York City, New York
CEO: Jim Nadler
Employees: 400+
Organization: PRI

Release Versions

Contacts

John Sage, Senior Director
+1 646-731-1452
john.sage@kbra.com

William Cox, Chief Rating Officer
+1 646-731-2472
william.cox@kbra.com

Eric Neglia, Global Head of Corporate Portfolio Finance and Direct Lending
+1 646-731-2456
eric.neglia@kbra.com

Eric Hudson, Senior Managing Director, Co-Head of Global Structured Credit
+1 646-731-3320
eric.hudson@kbra.com

Andrew Giudici, Global Head of Corporate, Project, and Infrastructure Finance
+1 646-731-2372
andrew.giudici@kbra.com

Shane Olaleye, Senior Managing Director
+1 646-731-2432
shane.olaleye@kbra.com

Teri Seelig, Managing Director
+1 646-731-2386
teri.seelig@kbra.com

Peter Connolly, Senior Director
+81 3-6690-1113
peter.connolly@kbra.com

Media Contacts

Adam Tempkin, Senior Director of Communications
+1 646-731-1347
adam.tempkin@kbra.com

Matt Turner, Associate Director
+353 1 588 1231
matt.turner@kbra.com

Business Development Contacts

Constantine Schidlovsky, Senior Director
+1 646-731-1338
constantine.schidlovsky@kbra.com

Michael Caro, Senior Director
+1 646-731-2382
michael.caro@kbra.com

Social Media Profiles
More News From Kroll Bond Rating Agency, LLC

KBRA Assigns Preliminary Ratings to ByzFunder Asset Securitization I, LLC, Series 2026-1

NEW YORK--(BUSINESS WIRE)--KBRA assigns preliminary ratings to three classes of notes (the “Notes”) issued by ByzFunder Asset Securitization I, LLC, Series 2026-1. ByzFunder NY LLC (“ByzFunder,” or the “Company”) is the Sponsor, Seller, and Servicer for ByzFunder Asset Securitization I, LLC, Series 2026-1. ByzFunder was founded in 2019 and is headquartered in New York, NY, with an additional office in Tampa, FL. The Company is a specialty finance company that provides working capital financing...

KBRA Assigns Rating to Frontline Insurance Reciprocal Exchange

NEW YORK--(BUSINESS WIRE)--KBRA assigns a BBB+ Insurance Financial Strength Rating (IFSR) to Frontline Insurance Reciprocal Exchange (“FIRE” or the “Exchange”). The Outlook for the rating is Stable. Key Credit Considerations FIRE is a newly formed Florida-domiciled reciprocal insurer established to write admitted Florida residential property business, primarily homeowners and fire/dwelling coverage. The rating reflects adequate initial capitalization and manageable projected underwriting levera...

KBRA Releases Research – European Data Centre Event—KBRA Event Recap

LONDON--(BUSINESS WIRE)--KBRA releases a recap of its European Data Centre Event in London on 20 May, bringing together sector experts, investors, issuers, operators, bankers, and other market participants for an afternoon of discussions on the key themes shaping the European data centre landscape. The programme focused on how artificial intelligence (AI)-driven demand, power availability, development constraints, evolving financing approaches, and investor underwriting considerations are influ...
Back to Newsroom