FitchRatings
U.S. Private Credit & Middle Market Monitor: 4Q25
The U.S. PCDR rose to 5.6% for the TTM ending 4Q25, the second-highest level since tracking began in August 2024. This is just below the peak of 5.7% seen in both February and November 2025, but up from 5.4% in 3Q25.
Read MoreU.S. Alt Manager Ratings Stable Despite 2026 Challenges
U.S. Alternative Investment Manager Ratings Stable Despite Challenging 2026 Click here to learn more. Fitch Ratings expects the credit profiles…
Read MoreLife Insurer Investment Portfolios to Remain Broadly Stable in 2026
Life insurers’ investment portfolio mix should remain broadly stable, with solid credit quality and core fixed income dominant amid a continued tilt toward private credit and alternative investments, driven by opportunistic repositioning and regulatory reclassifications.
Read More2026 Regulatory Reviews Mark Inflection for Securitisation SRT Market
The securitisation significant risk transfer (SRT) market is set to reach an inflection point in 2026 as a number of regulatory investigations conclude.
Read MorePrivate Credit Outlook 2026
The global private credit market will continue to grow in scale and complexity in 2026, having become much more diversified and widely held over the past decade.
Read MoreNorth 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…
Read MoreUS 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…
Read MoreUS 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…
Read MoreU.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’…
Read MoreU.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,…
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