US Private Credit Default Rate Remains at Record High: Fitch

Private credit firms continue to face flood of redemption requests.

Signage is seen outside the Blackstone Group headquarters in New York on Jan. 18, 2023. Jeenah Moon/Reuters

The U.S. private credit default rate remained at a record high in May, according to the latest update from Fitch Ratings released on June 15.

Private credit woes this year have taken a backseat to various headwinds and tailwinds, whether the war in Iran or SpaceX’s blockbuster debut on Wall Street.