Emerging market private credit surges to record $18bn
Lending booms in developing economies even as US industry struggles following collapse of First Brands
Lending booms in developing economies even as US industry struggles following collapse of First Brands

Growth raises concerns about underwriting and risk management at fast-expanding groups

Banks and companies in emerging markets outside China are issuing debt at the fastest pace since 2021

The sector remains untested in a severe or prolonged economic downturn

Developed markets have a debt problem — some investors are looking elsewhere

Repricing activity hits record high of $153bn in July in latest sign of investor optimism

Corporates try to take advantage of market rebounds rather than risk further turbulence or US midterm elections