Company: FCRX
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000950170-25-023153
Chunk: 339

Company: Crescent Capital BDC, Inc.
Filing Date: 2025-02-19
Form: 10-K
Item: Item 1B
Chunk 339
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, there can be no assurance that a significant change in market interest rates will not have a material adverse effect on our net investment income. We regularly measure our exposure to interest rate risk. We assess interest rate risk and manage our interest rate exposure on an ongoing basis by comparing our interest rate-sensitive assets to our interest rate-sensitive liabilities. Based on that review, we determine whether or not any hedging transactions are necessary to mitigate exposure to changes in interest rates. As of December 31, 2024, 97.3% of the investments at fair value in our portfolio were at variable rates, subject to interest rate floors. The SPV Asset Facility and SMBC Corporate Revolving Facility also bear interest at variable rates. Assuming that our Consolidated Statement of Assets and Liabilities as of December 31, 2024 were to remain constant and that we took no actions to alter our existing interest rate sensitivity, the following table shows the annualized impact of hypothetical base rate changes in interest rates (considering interest rate floors for floating rate instruments): ($ in millions) 

        Basis Point Change
         
        Interest Income

        Interest Expense

        Net Interest Income (1)

        Up 100 basis points

        14.7

        5.9

        8.8

        Up 75 basis points

        11.0

        4.4

        6.6

        Up 50 basis points

        7.3

        2.9

        4.4

        Up 25 basis points

        3.7

        1.5

        2.2

        Down 25 basis points

        (3.7
        )

        (1.5
        )

        (2.2
        )

        Down 50 basis points

        (7.3
        )

        (2.9
        )

        (4.4
        )

        Down 75 basis points

        (11.0
        )

        (4.4
        )

        (6.6
        )

        Down 100 basis points

        (14.7
        )

        (5.9
        )

        (8.8
        )
       
      (1)Excludes the impact of income incentive fees. See Note 3 to our consolidated financial statements for more information on the income incentive fees.Although we believe that this analysis is indicative of our existing sensitivity to interest rate changes, it does