Private Credit Cracks? Moody’s Slams KKR-Backed Fund with “Junk” Rating as Bad Loans Surge
the staff of the Ridgewood blog
NEW YORK — In a move sending shockwaves through the financial sector, Moody’s Ratings has officially downgraded FS KKR Capital Corp (FSK) to “junk” status. The downgrade comes as a warning sign for the broader private credit market, drawing uneasy comparisons to the 2008 financial crisis as non-accrual loans—borrowers who have stopped paying—climb to alarming levels.
Continue reading Shades of 2008? The Massive Downgrade Rocking KKR’s Flagship Credit Fund
