PitchBook：2025年第三季度欧洲杠杆贷款违约监测报告（英文版）

Bumper blowouts in 2025 pushed the LTM amount of payment defaults in the Morningstar European Leveraged Loan Index (ELLI) to €2.7 billion in September and October — a 15-month high, and up from just €475 million at the start of the year. • Altice France S.A. formally entered accelerated safeguard proceedings on June 10. With €1.69 billion outstanding on its term loan due 2028, the French telecom operator became the third-largest ELLI default on record. • The speed of the First Brands demise o