Standard & Poor's: Insurance companies are able to withstand the collapse of private credit.

Standard & Poor's Global Ratings conducted stress tests on the private credit exposure of life insurance companies, and the results were encouraging. The company stated that life insurance companies have "resilience" and are well-prepared to withstand pressure in the private credit sector. This sector has been under pressure in recent months. The ratings agency conducted a series of stress tests and concluded that even in the worst-case scenario envisioned in their research, only two insurance companies may be downgraded, about half of the insurance companies will face "moderate pressure" on their credit ratings; in this worst-case scenario, the default rate for junk bonds is approximately double the levels seen in 2008 and 2009. These tests focused on non-publicly issued, non-publicly rated debts held by insurance companies, such as corporate loans and structured non-mortgage financing bonds.