v3.26.1
Performance Management
Jul. 27, 2026
T. Rowe Price Institutional Floating Rate Fund  
Prospectus [Line Items]  
Bar Chart and Performance Table [Heading] Performance
Performance Narrative [Text Block]

The following performance information provides some indication of the risks of investing in the fund. The fund’s performance information represents only past performance (before and after taxes) and is not necessarily an indication of future results.

The following bar chart illustrates how much returns can differ from year to year by showing calendar year returns and the best and worst calendar quarter returns during those years for the fund’s Institutional Class. Returns for other share classes vary since they have different expenses.
Performance Past Does Not Indicate Future [Text] The fund’s performance information represents only past performance (before and after taxes) and is not necessarily an indication of future results.
Performance Information Illustrates Variability of Returns [Text] The following performance information provides some indication of the risks of investing in the fund.The following bar chart illustrates how much returns can differ from year to year by showing calendar year returns and the best and worst calendar quarter returns during those years for the fund’s Institutional Class. Returns for other share classes vary since they have different expenses.The following table shows the average annual total returns for each class of the fund that has been in operation for at least one full calendar year. The fund’s performance information included in the table is compared with a regulatory required index that represents an overall securities market (Bloomberg U.S. Aggregate Bond Index). In addition, the table may also include one or more indexes that align to the fund’s investment strategy.
Bar Chart [Heading] Calendar Year Returns
Bar Chart [Table]

 

INSTITUTIONAL FLOATING RATE FUND

Calendar Year Returns

   
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025

PerformanceBarChartData(2016:8,2017:3.77,2018:0.38,2019:8.79,2020:2.4,2021:4.65,2022:-0.6,2023:12.46,2024:9.14,2025:6.67)

 
Bar Chart Closing [Text Block]
    Quarter
Ended

Total

Return

     Quarter
Ended

Total

Return

  
  Best Quarter 6/30/20 8.16%   Worst Quarter 3/31/20 -11.28%  

 

The fund’s return for the six months ended 6/30/26 was 1.27%.
Year to Date Return, Label [Optional Text] The fund’s return for the six months ended
Bar Chart, Year to Date Return 1.27%
Bar Chart, Year to Date Return, Date Jun. 30, 2026
Highest Quarterly Return, Label [Optional Text] Best Quarter
Highest Quarterly Return 8.16%
Highest Quarterly Return, Date Jun. 30, 2020
Lowest Quarterly Return, Label [Optional Text] Worst Quarter
Lowest Quarterly Return (11.28%)
Lowest Quarterly Return, Date Mar. 31, 2020
Performance Table Heading Average Annual Total Returns Periods ended December 31, 2025
Performance Table Narrative

The following table shows the average annual total returns for each class of the fund that has been in operation for at least one full calendar year. The fund’s performance information included in the table is compared with a regulatory required index that represents an overall securities market (Bloomberg U.S. Aggregate Bond Index). In addition, the table may also include one or more indexes that align to the fund’s investment strategy.

In addition, the table shows hypothetical after-tax returns to demonstrate how taxes paid by a shareholder may influence returns. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements, such as a 401(k) account or an IRA. After-tax returns are shown only for the Institutional Class and will differ for other share classes.
Performance Table Uses Highest Federal Rate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements, such as a 401(k) account or an IRA.
Performance [Table]

 

Average Annual Total Returns 

  Periods ended 
  
  December 31, 2025  
                     
                  Inception  
  1 Year      5 Years     10 Years   date  
Institutional Class                 01/31/2008  
Returns before taxes 6.67 %   6.37 %   5.49 %    
Returns after taxes on distributions 3.59     3.49     3.05      
Returns after taxes on distributions                    
and sale of fund shares 3.89     3.61     3.13      
F Class                 08/27/2010  
Returns before taxes 6.52     6.24     5.36      

  

                    
Bloomberg U.S. Aggregate Bond Index (reflects no deduction for fees, expenses, or taxes)    
  7.30     -0.36     2.01      
Morningstar LSTA Performing Loan Index (reflects no deduction for fees, expenses, or taxes)    
  6.01     6.60     6.02      
Performance Table One Class of after Tax Shown [Text] After-tax returns are shown only for the Institutional Class and will differ for other share classes.
Index No Deduction for Fees, Expenses, or Taxes [Text] (reflects no deduction for fees, expenses, or taxes)
Performance Table Closing [Text Block]

Updated performance information is available through troweprice.com.

 
Performance Availability Website Address [Text] troweprice.com
T. Rowe Price Institutional High Yield Fund  
Prospectus [Line Items]  
Bar Chart and Performance Table [Heading] Performance
Performance Narrative [Text Block]

The following performance information provides some indication of the risks of investing in the fund. The fund’s performance information represents only past performance (before and after taxes) and is not necessarily an indication of future results.

 

The following bar chart illustrates how much returns can differ from year to year by showing calendar year returns and the best and worst calendar quarter returns during those years for the fund. Returns for other share classes vary since they have different expenses.
Performance Past Does Not Indicate Future [Text] The fund’s performance information represents only past performance (before and after taxes) and is not necessarily an indication of future results.
Performance Information Illustrates Variability of Returns [Text] The following performance information provides some indication of the risks of investing in the fund.The following bar chart illustrates how much returns can differ from year to year by showing calendar year returns and the best and worst calendar quarter returns during those years for the fund. Returns for other share classes vary since they have different expenses.The following table shows the average annual total returns for the fund. The fund’s performance information included in the table is compared with a regulatory required index that represents an overall securities market (Bloomberg U.S. Aggregate Bond Index). In addition, the table may also include one or more indexes that align to the fund’s investment strategy.
Bar Chart [Heading] Calendar Year Returns
Bar Chart [Table]
INSTITUTIONAL HIGH YIELD FUND

Calendar Year Returns

   
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025

 

 
Bar Chart Closing [Text Block]
    Quarter
Ended		 Total
Return		     Quarter
Ended		 Total
Return		  
  Best Quarter 6/30/20 10.12%   Worst Quarter 3/31/20 -13.62%  

 

The fund’s return for the six months ended 6/30/26 was 1.83%.

 
Year to Date Return, Label [Optional Text] The fund’s return for the six months ended
Bar Chart, Year to Date Return 1.83%
Bar Chart, Year to Date Return, Date Jun. 30, 2026
Highest Quarterly Return, Label [Optional Text] Best Quarter
Highest Quarterly Return 10.12%
Highest Quarterly Return, Date Jun. 30, 2020
Lowest Quarterly Return, Label [Optional Text] Worst Quarter
Lowest Quarterly Return (13.62%)
Lowest Quarterly Return, Date Mar. 31, 2020
Performance Table Heading Average Annual Total Returns Periods ended December 31, 2025
Performance Table Narrative

The following table shows the average annual total returns for the fund. The fund’s performance information included in the table is compared with a regulatory required index that represents an overall securities market (Bloomberg U.S. Aggregate Bond Index). In addition, the table may also include one or more indexes that align to the fund’s investment strategy.

 

In addition, the table shows hypothetical after-tax returns to demonstrate how taxes paid by a shareholder may influence returns. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements, such as a 401(k) account or an IRA.
Performance Table Uses Highest Federal Rate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements, such as a 401(k) account or an IRA.
Performance [Table]

 

Average Annual Total Returns 

  Periods ended   
  December 31, 2025  
                         
                      Inception  
      1 Year     5 Years     10 Years   date  
  Institutional High Yield Fund                 05/31/2002  
    Returns before taxes 9.00 %   4.43 %   6.11 %    
    Returns after taxes on distributions 6.02     1.77     3.47      
    Returns after taxes on distributions                    
    and sale of fund shares 5.27     2.19     3.53      
                         
       
  Bloomberg U.S. Aggregate Bond Index (reflects no deduction for fees, expenses, or taxes)    
    7.30     -0.36     2.01      
       
  Bloomberg U.S. High-Yield 2% Issuer Capped Bond Index (reflects no deduction for fees, expenses, or taxes)    
    8.62     4.50     6.52      
  Lipper High Yield Funds Average    
    8.02     4.14     5.65      
                         
Index No Deduction for Fees, Expenses, or Taxes [Text] (reflects no deduction for fees, expenses, or taxes)
Performance Table Closing [Text Block]

Updated performance information is available through troweprice.com.

 
Performance Availability Website Address [Text] troweprice.com
T. Rowe Price Institutional Long Duration Credit Fund  
Prospectus [Line Items]  
Bar Chart and Performance Table [Heading] Performance
Performance Narrative [Text Block]

The following performance information provides some indication of the risks of investing in the fund. The fund’s performance information represents only past performance (before and after taxes) and is not necessarily an indication of future results.

 

The following bar chart illustrates how much returns can differ from year to year by showing calendar year returns and the best and worst calendar quarter returns during those years for the fund.
Performance Past Does Not Indicate Future [Text] The fund’s performance information represents only past performance (before and after taxes) and is not necessarily an indication of future results.
Performance Information Illustrates Variability of Returns [Text] The following performance information provides some indication of the risks of investing in the fund.The following bar chart illustrates how much returns can differ from year to year by showing calendar year returns and the best and worst calendar quarter returns during those years for the fund.The following table shows the average annual total returns for the fund. The fund’s performance information included in the table is compared with a regulatory required index that represents an overall securities market (Bloomberg U.S. Aggregate Bond Index). In addition, the table may also include one or more indexes that align to the fund’s investment strategy.
Bar Chart [Heading] Calendar Year Returns
Bar Chart [Table]

 

INSTITUTIONAL LONG DURATION CREDIT FUND

Calendar Year Returns

 

 
Bar Chart Closing [Text Block]
    Quarter
Ended		 Total
Return		     Quarter
Ended		 Total
Return		  
  Best Quarter 12/31/23 13.47%   Worst Quarter 6/30/22 -13.21%  

 

The fund’s return for the six months ended 6/30/26 was 1.48%.

 
Year to Date Return, Label [Optional Text] The fund’s return for the six months ended
Bar Chart, Year to Date Return 1.48%
Bar Chart, Year to Date Return, Date Jun. 30, 2026
Highest Quarterly Return, Label [Optional Text] Best Quarter
Highest Quarterly Return 13.47%
Highest Quarterly Return, Date Dec. 31, 2023
Lowest Quarterly Return, Label [Optional Text] Worst Quarter
Lowest Quarterly Return (13.21%)
Lowest Quarterly Return, Date Jun. 30, 2022
Performance Table Heading Average Annual Total Returns Periods ended December 31, 2025
Performance Table Narrative

The following table shows the average annual total returns for the fund. The fund’s performance information included in the table is compared with a regulatory required index that represents an overall securities market (Bloomberg U.S. Aggregate Bond Index). In addition, the table may also include one or more indexes that align to the fund’s investment strategy.

 

In addition, the table shows hypothetical after-tax returns to demonstrate how taxes paid by a shareholder may influence returns. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements, such as a 401(k) account or an IRA.
Performance Table Uses Highest Federal Rate After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements, such as a 401(k) account or an IRA.
Performance [Table]

 

Average Annual Total Returns 

  Periods ended   
  December 31, 2025  
                         
                      Inception  
      1 Year     5 Years     10 Years   date  
  Institutional Long Duration Credit Fund                 06/03/2013  
    Returns before taxes 7.63 %   -2.99 %   3.36 %    
    Returns after taxes on distributions 5.31     -4.97     1.10      
    Returns after taxes on distributions                    
    and sale of fund shares 4.47     -3.00     1.76      
                         
       
  Bloomberg U.S. Aggregate Bond Index (reflects no deduction for fees, expenses, or taxes)    
    7.30     -0.36     2.01      
       
  Bloomberg U.S. Long Credit Bond Index (reflects no deduction for fees, expenses, or taxes)    
    7.77     -2.90     3.36      
  Lipper Corporate Debt Funds BBB-Rated Average    
    7.23     -0.47     2.96      

 
Index No Deduction for Fees, Expenses, or Taxes [Text] (reflects no deduction for fees, expenses, or taxes)
Performance Table Closing [Text Block]

Updated performance information is available through troweprice.com.

 
Performance Availability Website Address [Text] troweprice.com