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Stress in the U.S. private credit market persisted last month as the default rate reached an all-time high, Fitch Ratings said in a new report on Sept. 14.
The industry’s challenges had spooked Wall Street earlier this year, but faded into the background as investors wrestled with the war in Iran and renewed inflation fears.
But private credit woes linger, with August’s default rate rising to a record 6.3 percent, from 6.1 percent in July, the credit rating agency reported.
Watching about 1,500 private credit issuers, Fitch registered 14 default events, the highest monthly total in the trailing 12 months ending in August 2026. It identified three serial defaulters—issuers that have defaulted multiple times—and 11 unique defaulters….
The industry’s challenges had spooked Wall Street earlier this year, but faded into the background as investors wrestled with the war in Iran and renewed inflation fears.
But private credit woes linger, with August’s default rate rising to a record 6.3 percent, from 6.1 percent in July, the credit rating agency reported.
Watching about 1,500 private credit issuers, Fitch registered 14 default events, the highest monthly total in the trailing 12 months ending in August 2026. It identified three serial defaulters—issuers that have defaulted multiple times—and 11 unique defaulters….
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