Middle Market & Private Credit – 5/19/2025

Fitch’s Privately Monitored Middle Market Portfolio Overview, 1Q25

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As audits for privately monitored rating (PMR) issuers continue to roll in, Fitch forecasts revenue growth of 5.7% for 2024. Revenue growth for 2025 is likely to be pressured by rising U.S. tariffs and retaliatory measures.