{
 "markdown": "Appendix\n# Core Portfolio \u2013 Risk Ratings\n\nAverage risk rating was 2.5 for the quarter vs. 2.4 from 4Q25\n\n\n<figure type=\"CHART\">\n\n<description>This figure is a bar chart titled 'Risk Ratings' displaying the distribution of loan balances and loan counts across five risk categories, labeled 1 through 5. A bar chart at the top shows the percentage distribution of risk ratings: 0.0% for rating 1, 69.0% for rating 2, 20.9% for rating 3, 6.1% for rating 4, and 4.0% for rating 5. Below the chart is a table detailing the underlying data for each risk rating.</description><table><thead><tr><th>Risk Rating</th><th>1</th><th>2</th><th>3</th><th>4</th><th>5</th></tr></thead><tbody><tr><td>Principal Balance</td><td>-</td><td>3,180</td><td>965</td><td>281</td><td>183</td></tr><tr><td>Loan Count, 4Q25</td><td>-</td><td>137</td><td>22</td><td>6</td><td>4</td></tr><tr><td>(+) Addition</td><td>-</td><td>16</td><td>5</td><td>1</td><td>1</td></tr><tr><td>(-) Reduction</td><td>-</td><td>(13)</td><td>(1)</td><td>-</td><td>(1)</td></tr><tr><td>Loan Count, 1Q26</td><td>-</td><td>140</td><td>26</td><td>7</td><td>4</td></tr><tr><td>Change QoQ</td><td>-</td><td>3</td><td>4</td><td>1</td><td>-</td></tr><tr><td>Non-Performing</td><td>-</td><td>-</td><td>1</td><td>2</td><td>4</td></tr><tr><td>Watch List</td><td>-</td><td>-</td><td>-</td><td>7</td><td>4</td></tr></tbody></table></figure>\n\nNote: Principal balance in millions. Watchlist loans are loans with a risk rating of 4 or 5.\n\n\nBENEFIT STREET PARTNERS\n\n\n20\n\n<!-- doc_id=parse-01m3d9afjazqhf14sr5nm5nscy -->",
 "structure": {
  "type": "document",
  "markdown": null,
  "children": [
   {
    "type": "page",
    "page": null,
    "span": null,
    "width": null,
    "height": null,
    "dpi": null,
    "grounding": {
     "page": 1,
     "range": {
      "start": 0,
      "end": 1506
     },
     "box": {
      "xmin": 0.0,
      "ymin": 0.0,
      "xmax": 1.0,
      "ymax": 1.0
     }
    },
    "markdown": null,
    "status": "ok",
    "reason": null,
    "children": [
     {
      "type": "text",
      "id": "text-0",
      "span": null,
      "grounding": {
       "page": 1,
       "range": {
        "start": 0,
        "end": 104
       },
       "box": {
        "xmin": 0.03925,
        "ymin": 0.02998,
        "xmax": 0.52885,
        "ymax": 0.14041
       }
      },
      "atomic_grounding": [
       {
        "page": 1,
        "range": {
         "start": 0,
         "end": 9
        },
        "box": {
         "xmin": 0.04221,
         "ymin": 0.03283,
         "xmax": 0.10722,
         "ymax": 0.05819
        }
       },
       {
        "page": 1,
        "range": {
         "start": 9,
         "end": 42
        },
        "box": {
         "xmin": 0.0412,
         "ymin": 0.06022,
         "xmax": 0.44277,
         "ymax": 0.10508
        }
       },
       {
        "page": 1,
        "range": {
         "start": 42,
         "end": 104
        },
        "box": {
         "xmin": 0.04201,
         "ymin": 0.10624,
         "xmax": 0.52543,
         "ymax": 0.13484
        }
       }
      ],
      "markdown": null,
      "children": null,
      "row": null,
      "col": null,
      "colspan": null,
      "rowspan": null
     },
     {
      "type": "figure",
      "id": "figure-0",
      "span": null,
      "grounding": {
       "page": 1,
       "range": {
        "start": 106,
        "end": 1378
       },
       "box": {
        "xmin": 0.06885,
        "ymin": 0.16139,
        "xmax": 0.93167,
        "ymax": 0.90134
       }
      },
      "atomic_grounding": [
       {
        "page": 1,
        "range": {
         "start": 106,
         "end": 1378
        },
        "box": {
         "xmin": 0.06885,
         "ymin": 0.16139,
         "xmax": 0.93167,
         "ymax": 0.90134
        }
       }
      ],
      "markdown": null,
      "children": null,
      "row": null,
      "col": null,
      "colspan": null,
      "rowspan": null
     },
     {
      "type": "marginalia",
      "id": "marginalia-0",
      "span": null,
      "grounding": {
       "page": 1,
       "range": {
        "start": 1380,
        "end": 1473
       },
       "box": {
        "xmin": 0.04185,
        "ymin": 0.93843,
        "xmax": 0.37003,
        "ymax": 0.9585
       }
      },
      "atomic_grounding": [
       {
        "page": 1,
        "range": {
         "start": 1380,
         "end": 1473
        },
        "box": {
         "xmin": 0.04379,
         "ymin": 0.94022,
         "xmax": 0.36873,
         "ymax": 0.95622
        }
       }
      ],
      "markdown": null,
      "children": null,
      "row": null,
      "col": null,
      "colspan": null,
      "rowspan": null
     },
     {
      "type": "marginalia",
      "id": "marginalia-1",
      "span": null,
      "grounding": {
       "page": 1,
       "range": {
        "start": 1475,
        "end": 1499
       },
       "box": {
        "xmin": 0.73641,
        "ymin": 0.9576,
        "xmax": 0.91251,
        "ymax": 0.97918
       }
      },
      "atomic_grounding": [
       {
        "page": 1,
        "range": {
         "start": 1475,
         "end": 1499
        },
        "box": {
         "xmin": 0.7401,
         "ymin": 0.96166,
         "xmax": 0.90897,
         "ymax": 0.9748
        }
       }
      ],
      "markdown": null,
      "children": null,
      "row": null,
      "col": null,
      "colspan": null,
      "rowspan": null
     },
     {
      "type": "marginalia",
      "id": "marginalia-2",
      "span": null,
      "grounding": {
       "page": 1,
       "range": {
        "start": 1501,
        "end": 1504
       },
       "box": {
        "xmin": 0.94108,
        "ymin": 0.95866,
        "xmax": 0.95769,
        "ymax": 0.97816
       }
      },
      "atomic_grounding": [
       {
        "page": 1,
        "range": {
         "start": 1501,
         "end": 1504
        },
        "box": {
         "xmin": 0.94299,
         "ymin": 0.96149,
         "xmax": 0.95569,
         "ymax": 0.97478
        }
       }
      ],
      "markdown": null,
      "children": null,
      "row": null,
      "col": null,
      "colspan": null,
      "rowspan": null
     }
    ]
   }
  ]
 },
 "grounding": null,
 "metadata": {
  "req_id": null,
  "job_id": "parse-01m3d9afjazqhf14sr5nm5nscy",
  "model_version": "dpt-3-pro-20260710",
  "page_count": 1,
  "markdown_chars": null,
  "output_markdown_chars": 1553,
  "range_units": "unicode_codepoints",
  "openapi_spec": "https://api.ade.landing.ai/openapi.json",
  "failed_pages": [],
  "duration_ms": 7098,
  "billing": {
   "service_tier": "standard",
   "total_credits": 0.9
  }
 }
}