SQM Research, one of the largest ratings agencies covering private credit, has put the burgeoning sector on “watch” amid an uptick in problem loans, and accusations it has a transparency problem.
SQM said the firm would now step up its monitoring of the sector and adjust how it rates funds to increase the weighting of how well they are governed and heighten its due diligence when funds first apply to be rated.
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Primrose Riordan covers private companies and family offices from the AFR's Sydney newsroom. Primrose was previously a correspondent for the Financial Times and covered foreign affairs and politics in Canberra. Primrose has won multiple awards for her journalism including from The National Press Club, SABEW in the US and Press Gazette in the UK. Message Primrose on Signal: https://tinyurl.com/PrimroseSignal Connect with Primrose on Facebook and Twitter. Email Primrose at primrose.riordan@afr.com
Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
