Skip to main content

Market Views

Detailed Credit Work More Important in a Less Benign Environment

Mike Patterson headshot
Michael Patterson
Founding Partner, Co-President
Published on: December 09, 2025

A relatively benign credit environment for an extended period of time has helped keep defaults down in the non-investment grade lending space. In this video, Mike Patterson, an HPS Founding Partner and Co-President, says we may be transitioning to a more normal credit environment where detailed credit work will be more important.