Private-credit borrower defaults hit record high

Key facts

• The default rate among private-credit borrowers has reached a record high.
• This record high is according to a three-year-old index from Kroll Bond Rating Agency.
• The private credit industry is valued at $1.8 trillion.
• The rising default rate signals growing stress in the industry.

The default rate among private-credit borrowers has reached its highest point in the roughly three-year history of an index from Kroll Bond Rating Agency. This indicates growing stress within the $1.8 trillion industry.