Content hub
Explore private capital market trends, in-depth research from leading industry partners, expert interviews, live webinars, and educational videos — all in one place.
Featured Article
Business of Private Credit: Coming Home
Much attention has been paid to the suitability of Matt Damon in the lead role as the wily Odysseus in this summer’s Christopher Nolan blockbuster.
|
August 12, 2026 
U.S. LevFin markets steady in 2Q26; credit quality divide widens
North American leveraged finance markets remained active in 2Q26, but performance gaps across credit tiers widened, according to a new Fitch Ratings report.
U.S. private credit default rate reaches new high in 2Q26
Fitch Ratings’ U.S. Private Credit Default Rate (PCDR) rose to a new high in 2Q26, according to a new report.
Fitch Ratings completes peer review of 13 US BDCs
Fitch Ratings has completed a peer review of 13 U.S. business development companies (BDCs).
JV and FinCo Exposure Can Increase Risk for 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…
Elevated redemptions at Non-Traded BDCs persist
Average redemption requests continued to rise for perpetually non-traded business development companies (BDCs) in 2Q26, but levels and trends varied across the sector.
Credit Journal-Private Credit
Fitch Ratings’ latest Credit Journal series is a subject-specific, curated compilation of in-depth research and commentary. This edition explores the…
Credit Journal-Private Credit
Fitch Ratings’ latest Credit Journal series is a subject-specific, curated compilation of in-depth research and commentary.
BDC valuations weaken as leverage and dividend pressure rise
BDC Valuations Weaken in 1Q26 as Leverage Rises and Dividend Pressure Builds Click here to download report. Business development company…
U.S. Private credit default rate remains at record high 6.0% in May 2026
Fitch’s Privately Monitored Ratings Portfolio – 1Q26 Fitch recorded 19 downgrades and three upgrades in 1Q26, continuing the trend of…
Structured Finance: Intersection with Private Markets
Fitch’s latest market research report breaks down key transaction types at the intersection of private markets and structured credit
US Private Credit & Middle Market Monitor: 1Q26
This report is based on a series of panels held during 1H26.
U.S. Private Credit and Middle Market Performance Monitor: 1Q26
Fitch’s Privately Monitored Ratings Portfolio – 1Q26 Fitch recorded 19 downgrades and three upgrades in 1Q26, continuing the trend of…
U.S. Private Credit and Middle Market Performance Monitor: 1Q26
Fitch’s Privately Monitored Ratings Portfolio – 1Q26 In the charts above, Fitch presents aggregate data for issuers in its PMR…
U.S. Private Credit and Middle Market Performance Monitor: 1Q26
The PMR default rate based solely on bankruptcies, liquidations, and out-of-court restructurings was 1.9%.
U.S. Banks Increase Private Credit Disclosures Amid Continued Scrutiny
U.S. bank disclosures regarding private credit exposures improved in the first quarter of 2026, although inconsistencies relative to regulatory reporting…
US BDCs Face Persistent Earnings Pressure and Asset Quality Risks
U.S. business development companies (BDCs) face increasing pressure in 2026 as slower capital inflows and elevated redemptions weaken liquidity, while competitive underwriting and interest rates weigh on asset quality and earnings.