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Private Credit – Moody’s

Private credit is reshaping global capital markets at an unprecedented pace. What began as non‑bank lending to middle‑market borrowers, has expanded across asset classes and structures from private placements and asset‑based finance to real estate, infrastructure, and fund finance fueling new competition and partnerships among banks, insurers, and asset managers. As capital shifts further into private markets, opacity increases, risk profiles diverge, and traditional public‑market signals become less reliable.

For more than 100 years, Moody’s has set the standard for understanding credit risk in public markets. We bring that same analytical rigor to private credit providing the insights, data, and research market participants need to identify emerging risks, compare opportunities across strategies, and make more informed decisions in a rapidly expanding and increasingly complex private credit ecosystem.

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Private credit’s focus is shifting to risk exposure from access

Private credit is honing in on enhanced risk discipline as conditions become more complex and less forgiving. 




Easing credit risk masks a fragmented landscape

Moody’s Analytics updates its mid-year US credit risk outlook for 2026–2027, with a focus on how private credit risk is evolving. 


Private credit events hub

 

Stay ahead in private markets. Amidst unprecedented uncertainty and volatility, private credit and private equity are about to confront their biggest test in a long time. These markets have experienced strong growth, thriving in both favorable and adverse conditions. However, new obstacles are emerging.





“Private credit has shown a fair amount of resiliency over the past year, but as more loans are being flagged for closer monitoring, borrowing costs rise, and a wall of maturing debt comes due, it's a time to stay alert and keep an eye on the credit signals.”


Marc Pinto, Global Head of Private Credit, mOODY'S rATINGS


Marc Pinto




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MOODY's RATINGS | PRIVATE CREDIT

Unlock new sources of capital with Moody's Ratings

In the dynamic landscape of private credit, market participants can turn to Moody’s Ratings to assess risks and help analyze potential opportunities. 





MOODY's | PRIVATE CREDIT SOLUTIONS

Empower private credit with intelligence and insight

Moody’s helps asset managers, lenders, insurers, banks, and investors turn complex, fragmented information into clear, decision‑ready intelligence for private credit markets. Our vast data coverage, advanced analytics, and AI‑powered workflows are designed to meet professionals where they are across the private credit life cycle, from origination and investment to portfolio management and reporting.


Marc Pinto



Discover more about private credit

US corporate credit risk stuck in range, awaiting catalyst

Despite economic shocks and tariff volatility, US corporate credit risk remains range-bound. Moody’s forecasts modest default rate increases, with private credit showing resilience amid rising distressed restructurings.

Read more

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