Record Default Rate Hits US Private Credit Market in April: Fitch

The so-called software scare—also known as the SaaSpocalypse—had generated consternation across financial markets

The New York Stock Exchange in New York on April 4, 2025. Samira Bouaou/The Epoch Times

Private credit continues to lurk in the background of financial markets, with the default rate hitting an all-time high in April, according to Fitch Ratings.

The war in Iran has dominated Wall Street’s attention for the past 12 weeks, but earlier in the year, strains in the private credit industry caused consternation throughout the markets. New data suggest those issues have not eased, and the sector continues to face persistent pressures.