Flex Trends: Pricing (% of all Flexes that Decrease All-in Spread) and Covenants (% with Zero Doc Score Flex)

CR icon
Content hub / Article / Covenant Review / Flex Trends: Pricing (% of all Flexes that Decrease All-in Spread) and Covenants (% with Zero Doc Score Flex)



(Past performance is no guarantee of future results.)

Contact: Steven Miller

Making sense of private credit defaults

Webinar

Making sense of private credit defaults

What does private credit default data really tell us? Join our exclusive webinar featuring experts from KBRA, Moody's, Fitch Ratings, and S&P Global to find out.
Register
Credit Journal-Private Credit

Report

Credit Journal-Private Credit

Fitch Ratings’ latest Credit Journal series is a subject-specific, curated compilation of in-depth research and commentary. This edition explores the growing world of private credit, including non-bank lending across business development companies.
Download
PitchBook's US PE Middle Market Report

Report

PitchBook's US PE Middle Market Report

The middle market is off to its best start to a year since 2021, but its share of PE keeps slipping.
Download
Private Debt Investor New York Forum

September 15-16, Hudson Yards, New York

Private Debt Investor New York Forum

Bringing together the investors, managers and advisers shaping the next phase of the market — 200+ allocators and $10.6 trillion of LP capital expected. Benchmark strategies, hear from leading LPs, and cut through market noise over two unmissable days.
Learn more

Latest news

    Spread premium tightened slightly in Q2'26

    One bright spot for lenders in Q2 was that average spreads edged higher for the second straight quarter.

    Read More

    U.S. private credit default rate reaches new high in 2Q26

    Fitch Ratings’ U.S. Private Credit Default Rate (PCDR) rose to a new high in 2Q26, according to a new report.

    Read More

    More than 70% of public BDCs now trade below 0.80x NAV

    BDC valuations remain under pressure as investors have become more selective toward private credit this year. Concerns over AI-related risks…

    Read More