FitchRatings

Fitch Ratings recorded a U.S. Private Credit Default Rate (PCDR) of 6.3% for the trailing 12 months (TTM) ended August 2026, up from 6.1% in July 2026 and a record high.

The trend of barbelled recovery outcomes, either very high or very low recoveries, persisted in Fitch Ratings’ private ratings portfolio in 1H26.

In July 2026, portfolio credit quality in reinvesting Fitch-rated U.S. BSL CLOs remained broadly stable from June.

Fitch Ratings’ U.S. Private Credit Default Rate (PCDR) rose to a new high in 2Q26, according to a new report.

Fitch Ratings has completed a peer review of 13 U.S. business development companies (BDCs).

Elevated off-balance sheet leverage tied to joint ventures (JVs) and finance companies (FinCos) can alter the risk profile of business development companies (BDCs), according to a new Fitch Ratings report…

Average redemption requests continued to rise for perpetually non-traded business development companies (BDCs) in 2Q26, but levels and trends varied across the sector.

Fitch Ratings’ latest Credit Journal series is a subject-specific, curated compilation of in-depth research and commentary. This edition explores the…

Fitch Ratings’ latest Credit Journal series is a subject-specific, curated compilation of in-depth research and commentary.