Company: NMFCZ
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001496099-25-000018
Chunk: 402

Company: New Mountain Finance Corp
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 2
Chunk 402
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 non-accrual status. During the third quarter of 2021, we placed an aggregate principal amount of $13.5 million of our first lien term loans on non-accrual status. During the third quarter of 2023, we placed the remaining aggregate principal amount of $17.9 million of our first lien term loans on non-accrual status. As of March 31, 2025, our positions in AAC on non-accrual status had an aggregate cost basis of $31.4 million, an aggregate fair value of $18.0 million and total unearned interest income of $1.3 million for the three months then ended. As of March 31, 2025, our investment in AAC had an Orange Risk Rating.

During the second quarter of 2024, we placed our investment in our junior preferred shares in Eclipse Topco Holdings, Inc. (fka Transcendia Holdings, Inc.) ("Transcendia") on non-accrual status. As of March 31, 2025, our junior preferred shares in Transcendia had an aggregate cost basis of $2.6 million, an aggregate fair value of $2.7 million and total unearned income of $0.1 million for the three months then ended. As of March 31, 2025, our investment in Transcendia had a Green Risk Rating.

During the year ended December 31, 2019, our security purchased under collateralized agreements to resell was placed on non-accrual. As of March 31, 2025, our investment in this security had a Yellow Risk Rating and had an aggregate cost basis of $30.0 million and an aggregate fair value of approximately $13.5 million.

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Portfolio and Investment Activity

The fair value of our investments, as determined in good faith by our board of directors, was approximately $3,034.2 million in 118 portfolio companies at March 31, 2025 and approximately $3,091.0 million in 120 portfolio companies at December 31, 2024.

The following table shows our portfolio and investment activity for the three months ended March 31, 2025 and March 31, 2024:

 Three Months Ended(in millions)March 31, 2025March 31, 2024Investments in 18 and 30 new and existing portfolio companies, respectively$