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Karl Pettersen (Scope Ratings): “Opacity in Private Credit Is Similar to that of Mortgages in the 2008 Crisis′′

Summary by El Pais
It is outside the usual banking circuits, away from public scrutiny of listed assets. But its importance is key. Private credit is a hidden giant that manages 1.8 trillion dollars (1.6 trillion euros) in assets worldwide. Karl Pettersen (50 years old, Neuilly-sur-Seine, France), co-director of corporate ratings at the Scope Ratings agency, warns that “secretism allows bad behavior” and judgment that the market needs credibility. Continue reading

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El PaisEl Pais
Lean Left

Karl Pettersen (Scope Ratings): “Opacity in Private Credit Is Similar to that of Mortgages in the 2008 Crisis′′

It is outside the usual banking circuits, away from public scrutiny of listed assets. But its importance is key. Private credit is a hidden giant that manages 1.8 trillion dollars (1.6 trillion euros) in assets worldwide. Karl Pettersen (50 years old, Neuilly-sur-Seine, France), co-director of corporate ratings at the Scope Ratings agency, warns that “secretism allows bad behavior” and judgment that the market needs credibility. Continue reading

·Spain
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El Pais broke the news in Spain on Saturday, April 4, 2026.
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