collateral-backed

ABF, once the safe, collateral-backed part of private credit, fails as collateral proves worthless

ABF was supposed to be the safe part of private credit. Downside protected. Self-liquidating. Diversified. Turns out "collateral-backed" only works if the collateral is worth something. So much for the safe stuff. pic.twitter.com/oWQvoIHXIZ — junkbondinvestor (@junkbondinvest) January 26, 2026 April is about perfect for a crisis to have max midterm impact. Ed, do you notice …

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