The default rate for leveraged loans hit a record low in 2021, according to data from Fitch Ratings. The 2021 institutional leveraged loan default rate stands at 0.6%, the lowest level in a decade and well below 2020's 4.5%.

2021 default volume tallies only $9.7 billion compared with $68.1 billion one year ago while the number of defaults is at 21 versus 9