Moody’s Marc Pinto Warns Private Credit Faces 2028 Refinancing Test

Moody’s Ratings’ global head of private credit Marc Pinto said private credit is entering a pivotal phase, with AI infrastructure spending creating major lending opportunities but cracks emerging in software-focused portfolios. According to Bloomberg, Pinto said the real test may come in 2028, when a wave of refinancing could reveal which borrowers can survive and which cannot.