FitchRatings
Fitch’s Privately Monitored Middle Market Portfolio Overview, 2Q24
Click here to download report. In the charts that follow, Fitch presents aggregate data for MM companies, defined as in…
Read MoreBDCs vs. Middle Market CLOs: Part 2
Click here to learn more. There can be a meaningful difference in the seniority of the assets in a MM…
Read MoreBDCs vs. Middle Market CLOs: Part 1
Click here to learn more. While the expansion in private credit has attracted widespread media attention in recent years, direct…
Read MoreFewer PMR ‘CCC’s Reach the ‘B’ Category
Click here to learn more. Once in the ‘CCC’ category, fewer issuers in the PMR portfolio ascend to the ‘B’…
Read MorePMRs Stay Longer in ‘CCC’ Category
Click here to learn more. PMR issuers within the ‘CCC’ category have a lower average annual upgrade rate, lower average…
Read MorePMR Portfolio Concentrated in Lower Rating Categories
Click here to learn more. The PMR portfolio consists exclusively of ‘B’ category and below issuers as the companies in…
Read MoreFitch U.S. MM CLO Spotlight – May 2024
Click here to learn more. ‘CCC’ Exposure Marginally Up Exposure to assets with Fitch IDRs or credit opinions of ‘CCC+’…
Read MoreFitch U.S. MM CLO Spotlight – May 2024
Click here to learn more. Defaults and Deferring Exposure Flat Twenty-five CLOs had exposure to at least one defaulted or…
Read MoreDefault Rate Rises in Fitch’s US Private Credit Portfolio
Default Rate Rises in Fitch’s U.S. Privately Monitored Corporate Ratings Portfolio Click here to learn more. The default rate for…
Read MoreU.S. BDC Earnings, Credit Headwinds to Persist in 2024
Fitch-rated U.S. business development companies (BDCs) face persistent headwinds in 2024, with rising paid-in-kind (PIK) income and continued markdowns of…
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