Middle Market & Private Credit – 8/11/2025
U.S. Private Credit and Middle Market Performance Monitor: 2Q25 Click here to learn more. Fitch’s Privately Monitored Ratings Portfolio, Rating Activity The issuer-weighted TTM default rate for PMRs rose to 9.5% in 2Q25 from 7.8% in 1Q25. Fitch recorded 28 unique defaults for the TTM period, up from 23 in 1Q25. This is the highest…