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U.S. private-credit portfolio values fall further as spreads widen

Reuters analysis of regulatory filings from 44 U.S. business development companies found U.S. private-credit portfolio values moved further below reported cost in 1H 2026 as spreads widened and stress emerged among some borrowers, especially in software.

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U.S. private-credit portfolio values moved further below reported cost in the first half of 2026 as market spreads widened and stress emerged among some borrowers, particularly in the software sector, a Reuters analysis found.The analysis of regulatory filings from 44 U.S. business development comp…