Cliffwater Private Credit Fund’s Outlook Cut to Negative by S&P

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Private Credit:S&P Global Ratings lowered its outlook on Cliffwater LLC’s flagship private credit fund to negative from stable, citing elevated redemption requests that risk putting pressure on its liquidity.The roughly $32 billion Cliffwater Corporate Lending Fund’s decision to meet 7% of withdrawal requests in the first quarter was higher than the 5% minimum, and the second quarter in a row it topped that level, S&P said in a reportBloomberg Terminal Wednesday. Analysts warned if that “were to constitute the new norm and not the exception,” it could strain the fund and potentially spur a downgrade.