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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.
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August 12, 2026 
North American Leveraged Finance Outlook 2026
Click here to download report. Fitch Ratings’ 2026 sector outlook for North American Leveraged Finance is neutral, reflecting broadly steady…
US Life Insurer Investment Risk Rising from Private Letter Ratings
Click here to learn more. Join Fitch for the upcoming Outlook panel: 2026 Leveraged Finance Credit Outlook Webinar Signs of…
US Life Insurer Investment Risk Rising from Private Letter Ratings
Click here to learn more. Join Fitch for the upcoming Outlook panel: 2026 Leveraged Finance Credit Outlook Webinar The rapid…
U.S. Private Credit Exposure Rising in Sectors with Stretched Valuations
Click here to learn more. Join Fitch for the upcoming Outlook panel: 2026 Leveraged Finance Credit Outlook Webinar Direct lenders’…
U.S. Business Development Companies Outlook 2026
Click here to download report. Fitch Ratings has a ‘deteriorating’ sector outlook for U.S. business development companies (BDCs) in 2026,…
U.S. Private Credit and Middle Market Monitor: 3Q25
Click here to learn more. Fitch’s Privately Monitored Ratings Portfolio Overview, 3Q25 In the charts above, Fitch presents aggregate data…
Rapid US Non-Bank Loan Growth Raises Risk of Wider Losses for Banks
Click here to learn more. U.S. regional banks’ recent losses tied to non-bank financial institutions (NBFIs) may signal broader risk…
U.S. Private Credit: Sizing Up Defaults
Click here to download report. This report examines private credit defaulters by EBITDA size, compares default rates across the two…
Systemic Shock Could Expose Private Credit’s Broad Reach
Click here to download report. A shock to the financial system that impacts the private credit sector could reveal the…
U.S. Private Credit: Sizing Up Defaults
Click here to download report. Issuers generating less than $25 million EBITDA defaulted at more than twice the rate of…
U.S. Private Credit: Sizing Up Defaults
Click here to download report. Small issuers generating less than $25 million EBITDA defaulted at more than double the rate…
Rents, Lease Pass Throughs Support US Data Centers Amid Higher Costs
Click here to learn more. Tariffs, geopolitical tensions, and federal policy changes are disrupting supply chains, increasing data center and…
US BDC Robust Unsecured Debt Issuance Reduces Funding, Liquidity Risk
Click here to learn more. Strong unsecured debt issuance has continued for rated business development companies (BDCs) in 2025 amid…
PIK Income Fell Modestly in 2Q25 for BDCs, Dividend Coverage Varies
Click here to learn more. Payment-in-kind (PIK) income for Fitch-rated business development companies (BDCs) declined modestly in 2Q25 but remains…
Credit Journal – Private Credit
Click here to download. This edition of Fitch Ratings’ Credit Journal series explores the growing world of Private Credit,
U.S. Private Credit and Middle Market Performance Monitor: 2Q25
Click here to learn more. Fitch’s Privately Monitored Ratings Portfolio, Rating Activity The issuer-weighted TTM default rate for PMRs rose…