Secured debt that is loaned to primarily non-investment grade borrowers for mostly working capital, acquisitions, turnarounds, growth financing, debtor-in-possession financing (DIP Financing), exit financing, and corporate recapitalization or reorganizations. ABL’s are secured by assets which can be collateralized such as, Accounts Receivable, certain Contacts, Equipment, etc. (Though generally, not real estate because it is another asset class).