Core Insights - Moody's report indicates an increasing trend among U.S. companies seeking more flexible terms in credit agreements to raise debt without needing approval from existing lenders [1][2] - Companies with weaker credit profiles are pressuring lenders for greater flexibility to expand their debt capacity due to difficulties in issuing new bonds in the public market [1] - The report highlights that transactions modifying terms to enhance debt financing capabilities could see new debt levels reach 40% to 300% of EBITDA [1] Debt Market Trends - From early 2024 to May 2025, 10% of credit agreements (9 out of 89) have successfully incorporated more flexible terms, all involving private equity-backed borrowers [1] - Recent transactions include financing for SolarWinds by Turn/River Capital and KKR's leveraged buyout of OSTTRA, both reflecting the trend of borrowers seeking to expand debt capacity [1] Competitive Landscape - The trend of borrowers, including financially distressed companies, to "unrestrictedly access debt" is becoming increasingly evident as lenders in the public debt market face fierce competition from the expanding private credit market [2]