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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.

Kilnbrace Specialty Products

Valuation support — Q3 2026

WatchIndustrialsMark carried on: Senior Term Loan← Valuation pack

Marks received: 1/1 credit positions; 1/1 equity positions. Totals include known marks only. LTM analysis requires four consecutive financial quarters.

$6.0M
Credit FV · Q3 2026
-$0.1M
vs Q2 2026
0.50x
Credit FV / LTM EBITDA
$11.9M
LTM EBITDA (unadjusted)
Tight
Binding Covenant

Mark against Credit

Credit fair value ($M)$6.0M latest
6.06.06.16.16.0
Interest Coverage cushion (%)
———8.43.2
Total Leverage cushion (%)
———9.51.0
Q3 2025Q4 2025Q1 2026Q2 2026Q3 2026

Method and Assumptions

QuarterCredit FVMethodNote
Q3 2025$6.0MNot documented—
Q4 2025$6.0MNot documented—
Q1 2026$6.1MNot documented—
Q2 2026$6.1MCostHeld at cost less minor accrual — UNCHANGED FOR 3 QUARTERS
Q3 2026$6.0MCostReviewed source: Holdings and Marks!G2; 6

Valuation Events

QuarterEventNoteRecorded by
Q2 2026Auditor inquiryAuditor questioned unchanged mark against declining EBITDAportfolio.analyst@nsns-fund.example