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In the near term, private credit restructurings for software companies are likely to be minimal given the relatively low number of loans set to mature over the next few years. According to Octus analysis, just 9.7% of software loans mature prior to 2028. Maturities, absent extensions or refinancings, pick up in 2028, as shown below. Octus calculates average maturities for software loans across BDC portfolios of 4.9 years as of Sept. 30, 2025.
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Information technology topped nonaccruals on a cost basis
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