Issuing spreads for leveraged loans have firmed, causing a slowdown in dividend recaps and repricings for the third quarter. M&A-related volume is off 20% over last year.
US Private Credit Transparency Highlights Uneven BDC Performance
September 22, 2026
Credit performance across business development company (BDC) portfolios remains uneven, although reported losses and non-accruals were broadly stable quarter over quarter, according to Fitch Ratings’ Private Credit Transparency Monitor for 2Q26.