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As of 10 Oct 2026 · demonstration dates
Portfolio reports show the current active book. Closed and archived borrowers, including their history, are available in All Borrowers.
Grainmoor Food Distribution
Valuation support — Q3 2026
Marks received: 1/1 credit positions; 0/0 equity positions. Totals include known marks only. LTM analysis requires four consecutive financial quarters.
$9.8M
Credit FV · Q3 2026
-$0.4M
vs Q2 2026
0.59x
Credit FV / LTM EBITDA
$16.6M
LTM EBITDA (unadjusted)
Breach
Binding Covenant
Mark against Credit
Credit fair value ($M)$9.8M latest
12.011.511.010.29.8
Interest Coverage cushion (%)
———3.6-3.6
Minimum LTM EBITDA ($M) cushion (%)
———-15.0-24.6
Total Leverage cushion (%)
———-1.4-14.3
Q3 2025Q4 2025Q1 2026Q2 2026Q3 2026
Method and Assumptions
| Quarter | Credit FV | Method | Note |
|---|---|---|---|
| Q3 2025 | $12.0M | Not documented | — |
| Q4 2025 | $11.5M | Not documented | — |
| Q1 2026 | $11.0M | Not documented | — |
| Q2 2026 | $10.2M | Income / DCF | Downside-weighted; sponsor support assumed through 2026 |
| Q3 2026 | $9.8M | Income / DCF | Reviewed source: Holdings and Marks!G2; 9.8 |
Valuation Events
| Quarter | Event | Note | Recorded by |
|---|---|---|---|
| Q4 2025 | Covenant waiver | Min-EBITDA waived for two quarters, fee 50bps | portfolio.analyst@nsns-fund.example |
| Q1 2026 | Sponsor injection | $2.0M equity cure applied to revolver | portfolio.analyst@nsns-fund.example |