SaaS Markets Have Crashed in 2026. But Is Private Credit the Even Bigger Risk?

SaaS Markets Have Crashed in 2026. But Is Private Credit the Even Bigger Risk? We all know software stocks have entered a bear market in 2026. But the debt side of software might end up being a much bigger deal.IGV is down 23%+ year-to-date. $285 billion in market cap wiped out in a single day. Software P/S ratios compressed from 9x to 6x — levels we haven’t seen since the mid-2010s. But it’s more than just stocks going down.It puts huge stress on private credit’s $600-750 billion exposure to software comp ...