The rise of private credit over the past decade has been nothing short of monumental. But JPMorgan Chase CEO Jamie Dimon warned this week that parts of the burgeoning sector have some of the same problems that the mortgage market had prior to the Great Recession of 2008, including questionable credit ratings from ratings agencies.
“I’ve seen a couple of these deals that were rated by a ratings agency, and I have to confess it shocked me what they got rated,” he said at a conference Wednesday, per Bloomberg. “It reminds me a little bit of mortgages.”
