Private Credit Outlook 2026 Click here to download report. The global private credit market will continue to grow in scale and complexity in 2026, having become much more diversified and widely held over the past decade…. Subscribe to Read MoreAlready a member? Log in here...
North American Leveraged Finance Outlook 2026 Click here to download report. Fitch Ratings’ 2026 sector outlook for North American Leveraged Finance is neutral, reflecting broadly steady credit conditions across liquid markets and private debt. Most sectors carry neutral outlooks. Aerospace & Defense is the sole corporate sector with an improving outlook, while a handful are…
US Life Insurer Investment Risk Rising from Private Letter Ratings Click here to learn more. Join Fitch for the upcoming Outlook panel: 2026 Leveraged Finance Credit Outlook Webinar Signs of emerging bubbles have increased in 2025 amid robust investor risk appetite, high market valuations, a rush of capex in AI-related industries and continued growth in…
US Life Insurer Investment Risk Rising from Private Letter Ratings Click here to learn more. Join Fitch for the upcoming Outlook panel: 2026 Leveraged Finance Credit Outlook Webinar The rapid growth of private letter ratings (PLRs) raises risks for U.S. life insurers as it coincides with the industry’s move toward more complex, opaque investments untested…
U.S. Private Credit Exposure Rising in Sectors with Stretched Valuations Click here to learn more. Join Fitch for the upcoming Outlook panel: 2026 Leveraged Finance Credit Outlook Webinar Direct lenders’ preference for non-cyclical, stable recurring cash flows has increased their exposure to corporate sectors with higher EV/EBITDA multiples, which could exacerbate credit risks in a…
U.S. Business Development Companies Outlook 2026 Click here to download report. Fitch Ratings has a ‘deteriorating’ sector outlook for U.S. business development companies (BDCs) in 2026, due to pressure on earnings and dividend coverage from declining interest rates and elevated payment-in-kind (PIK) income…. Subscribe to Read MoreAlready a member? Log in here...
U.S. Private Credit and Middle Market Performance Monitor: 3Q25 Click here to learn more. Fitch’s Privately Monitored Ratings Portfolio Overview, 3Q25 In the charts above, Fitch presents aggregate data for issuers in its PMR portfolio. Fitch privately rates these issuers on behalf of asset managers…. Subscribe to Read MoreAlready a member? Log in here...
Rapid US Non-Bank Loan Growth Raises Risk of Wider Losses for Banks Click here to learn more. U.S. regional banks’ recent losses tied to non-bank financial institutions (NBFIs) may signal broader risk from this fast-growing loan segment. While these cases may be fraud-related and idiosyncratic, rapid expansion of NBFI exposures increases the chance that concentrated…
U.S. Private Credit: Sizing Up Defaults Click here to download report. This report examines private credit defaulters by EBITDA size, compares default rates across the two component Model-based Credit Opinion (MCO) and Privately Monitored Ratings (PMR) portfolios, and details default reasons…. Subscribe to Read MoreAlready a member? Log in here...
Systemic Shock Could Expose Private Credit’s Broad Reach Click here to download report. A shock to the financial system that impacts the private credit sector could reveal the extent that it has moved from a niche product for sophisticated investors to an increasingly relevant component of the global capital markets…. Subscribe to Read MoreAlready a