The U.S. private credit default rate tracked by Fitch Ratings hit a new high in the second quarter. The rating agency reported that it recorded 32 private credit default events in the second quarter, which involved 20 new defaulters. More than half of the default events in the quarter involved maturity extensions, rather than interest rate deferrals or other types of events, Fitch noted. As a result of the default activity in the quarter, the U.S. private credit default rate for the previous 12 months rose to 6% in the second quarter, up from 5.7% in the first quarter. By sector, the default rate rose for health care, and the industrials and manufacturing sector posted the highest default rates among the largest sectors, Fitch said.