This month, the International Monetary Fund (IMF) published its Global Financial Stability Report (GSFR). The report focuses on financial vulnerabilities and risks to financial stability. In the near term, the report found that “near-term financial stability risks have receded since the last GFSR” and despite the reported challenges in assessing the overall financial stability risks of private corporate credit – an area of specific focus in the GFSR – given the unavailability of data, financial stability risks in private corporate credit appear contained. The chapter of the report dedicated to private corporate credit (The Rise and Risks of Private Credit) readily acknowledges that private corporate credit has provided significant economic benefits during its 30-year existence by providing long-term financing to corporate borrowers.