Fitch: US-Iran War Pressures Credit
Fitch Ratings reports that the US-Iran war has pressured but not upended the global credit outlook, with a greater number of sectors expected to deteriorate in 2026
The global credit environment has deteriorated since Fitch Ratings’ last Global Credit Outlook, published in December.
The U.S.-Iran war and resulting oil supply shock have been the dominant factors.
As a result, a significantly greater number of our 2026 sector and asset performance outlooks are now ‘deteriorating’ than in our initial assessment at the end of 2025.
This means that we expect operating and business conditions, or asset performance in the case of structured finance sectors, to weaken relative to 2025 for up to a third of the sectors we assess.
Macro-credit risks have also heightened.