ARCC
A little more wobble in the loan book
Ares Capital just showed a bit more strain in its portfolio: non-accrual loans rose to 2.4% in the second quarter of 2026, compared with 1.8% a year ago. In plain English, more borrowers are slipping into the “not paying us right now” bucket.
Why investors care
For a business development company like ARCC, credit quality is the whole game. If loan problems keep ticking higher, that can put a dent in income, pressure net asset value, and make the dividend story a little less cozy than it looks on a slide deck.
Still not panic mode
The silver lining? 2.4% is still below Ares Capital’s own historical average, so this is more “eyebrow raise” than “grab the life raft.” But when you lend for a living, even small changes in borrower health can snowball fast if the economy starts acting dramatic.
Big picture: ARCC is still in decent shape, but investors now have one more reason to keep an eye on credit trends instead of just collecting the yield and hoping for the best.