S&P Global Expects to Rate More Private Credit as Debt Weakens

S&P Global Inc. expects to generate more revenue from rating private debt financings, as a potential downturn in credit markets spurs investors to seek more information about the risks their money managers are taking, the company’s finance chief said.

The private credit market has grown to $1.6 trillion, up from around $500 billion at the end of 2015, according to Preqin, a data provider. Much of that growth has come in the past few years, and most investors in direct lending funds and similar vehicles haven’t seen their portfolios get hit in bad times, said Ewout Steenbergen, chief financial ...