NEW YORK--(BUSINESS WIRE)--The LSTA, the trade association for the corporate loan market, today released an essential Glossary of Private Corporate Credit (“PCC”) terms and an accompanying Frequently Asked Questions (“FAQ”) about PCC.
The documents were developed by LSTA staff with guidance from LSTA members, including the LSTA’s Private Credit Senior Advisory Committee and the Private Credit Markets Committee.
“The rapid growth of private corporate credit has now dictated that the industry operate with a common understanding and uniformity on key terminologies and issues,” said Sean Griffin, CEO and executive director of the LSTA. “There is a need for broad education for all industry stakeholders and observers, including policy makers. These new documents level-set, clarify and create an important industry benchmark in many areas of PCC moving forward.”
The PCC Glossary contains explanations of 110 of the most frequently used terms in private corporate credit. The FAQ is comprised of 10 key questions and answers about the asset class.
Tess Virmani, EVP and head of policy at the LSTA, said, “Questions around private corporate credit have gotten a lot of exposure and scrutiny, and at times been driven my misinformation. How well private credit fares under increased scrutiny has received much less attention. The FAQ answers 10 essential questions that should be asked and understood about private corporate credit – while the Glossary makes industry jargon simple, accessible and uniform in meaning.”
