FitchRatings

In July 2026, portfolio credit quality in reinvesting Fitch-rated U.S. BSL CLOs remained broadly stable from June. Net portfolio losses held at 0.5%. The Fitch weighted average rating factor also held at 23.1. The Fitch weighted average recovery rate declined slightly by 0.1%, while the weighted average spread fell by 0.01%.

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.

BDC Valuations Weaken in 1Q26 as Leverage Rises and Dividend Pressure Builds Click here to download report. Business development company…

Fitch’s Privately Monitored Ratings Portfolio – 1Q26 Fitch recorded 19 downgrades and three upgrades in 1Q26, continuing the trend of…