Private credit default rate hits 9.2%, worst on record
Nearly one in ten U.S. companies with private credit debt defaulted last year. Fitch Ratings tracked 302 companies in the private credit market and recorded 38 defaults across 28 borrowers in 2025 — a 9.2% default rate that broke the previous record of 8.1% set just a year earlier, according to MarketScreener.
The borr…
