Moody's Downgraded A Massive Private Credit Fund

By Jeffrey P. Snider of Eurodollar University

Chief Investment Strategist • Mar 25, 2026 at 7:45 AM EDT

Moody's downgraded a $13 billion private credit fund co-managed by KKR, citing significant asset quality challenges.

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Another major development in the private credit crisis - yes, it is a crisis now. Moody's downgraded a $13 billion KKR co-managed private credit fund, citing "asset quality challenges." This is a huge escalation for three key reasons we'll go over here.

Video Length: 00:39:51