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Owl Rock Capital Corporation, the publicly traded business development company managed by Blue Owl Capital, has moved its investment in Loparex to non-accrual status, a designation that stops interest income recognition on a credit position.
What complicates it is that the size of the Loparex exposure is undisclosed, which makes the materiality question impossible to settle from the outside.
What non-accrual means for OBDC investors Non-accrual is not a routine classification.
When a BDC stops accruing interest on a position, it signals that the borrower is no longer meeting its obligations to the lender's satisfaction.
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