Company: FCRX
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0000950170-25-023153
Chunk: 631

Company: Crescent Capital BDC, Inc.
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 631
---
        )

        Balance as of December 31, 2023
        $
        409,945

        $
        948,781

        $
        13,544

        $
        44,907

        $
        4,061

        $
        48,909

        $
        1,470,147

        Net change in unrealized appreciation (depreciation) from investments still held as of December 31, 2023
        $
        (2,813
        )
         
        $
        10,833

        $
        (1,031
        )
         
        $
        976

        $
        509

        $
        2,275

        $
        10,750

       During the year ended December 31, 2023, the Company recorded $13,598 in transfers from Level 3 to Level 2 due to an increase in observable inputs in market data and $33,785 in transfers from Level 2 to Level 3 due to a decrease in observable inputs in market data.

154

The following tables present the fair value of Level 3 investments and the ranges of significant unobservable inputs used to value the Company’s Level 3 investments as of December 31, 2024 and 2023. These ranges represent the significant unobservable inputs that were used in the valuation of each type of investment. These inputs are not representative of the inputs that could have been used in the valuation of any one investment. For example, the highest market yield presented in the table for senior secured first lien investments is appropriate for valuing a specific investment but may not be appropriate for valuing any other investment. Accordingly, the ranges of inputs presented below do not represent uncertainty in, or possible ranges of, fair value measurements of the Company’s Level 3 investments. 

        Security Type
         
        Fair Value as of December 31, 2024(in thousands)

        Valuation Technique
         
        Unobservable Input
         
        Range (Weighted Avg)

        Senior Secured First Lien
         
        $
        324,549

        Discounted Cash Flows
         
        Discount Rate
         
        8.0%
        -
        18.3%
        (10.8%)

        27,840

        Enterprise Value
         
        Comparable EBITDA Multiple
         
        3.1x
        -
        10.6