Investor Presentaiton
Overview of FBLC:
Risk Ratings Overview
FRANKLIN BSP
LENDING
CORP
Consistent internal risk rating profile with steady improvement since COVID-19
% of Portfolio at FV
3.0%
2.5%
2.0%
2.3
2.3
1.5%
1.0%
1.8%
1.1%
2.2
2.2
2.5
0.5%
2.4
2.3
2.2
2.2
2.2
2.2
0.3%
2.1
2.1
2.1
2.1
0.3%
2.0%
2.1
0.5%
1.0%
0.4%
0.4%
0.4%
0.3%
0.9%
0.5%
1.3%
0.4%
0.3%
0.0%
0.1%
0.8%
0.7%
2.3%
0.0%
0.0%
2.0
Q4 2020 Q1 2021
Q2 2021 Q3 2021
4
Q4 2021
5
Q1 2022 Q2 2022 Q3 2022
W/A Rating
Q4 2022 Q1 2023
Q2 2023
Internal Risk Rating Definition
Rating
1
2
3
st
Definition
Debt investment exceeding fundamental performance expectations and/or capital gain expected. Trends and risk factors since the time of
investment are favorable.
Performing consistent with expectations and a full return of principal and interest expected. Trends and risk factors are neutral to favorable. All
investments are initially rated a "2".
Performing debt investment requiring closer monitoring. Trends and risk factors show some deterioration.
Underperforming debt investment. Some loss of interest or dividend expected, but still expecting a positive return on investment. Trends and risk
factors are negative.
5
Underperforming debt investment with expected loss of interest and some principal.
Source: SEC filings as of 08/11/2023.
Notes: PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. ANY INVESTMENT INVOLVES SIGNIFICANT RISK, INCLUDING LOSS OF THE ENTIRE INVESTMENT.
BENEFIT STREET
21
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