Category Archives: Moody’s

More nations have negative credit outlook, Moody’s says

Moody’s Investors Service says about a quarter of the countries it rates have a negative credit outlook because stimulus measures and sluggish growth have hurt creditworthiness.

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Moody’s: Brexit could cost UK its Aa1 rating

If Britain loses access to the EU single market, its credit rating could be downgraded, said ratings agency Moody’s Investors Service. “The UK’s Aa1 sovereign rating would be downgraded if the UK’s loss of access to the European Single Market following Brexit were to materially weaken medium-term growth and if the credibility of UK fiscal policy were to be undermined,” according to a Moody’s statement

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New Delhi : Moody’s & ICRA Briefing: India’s Macroeconomic, Sovereign & Banking Outlook , 20 September 2016

Moody’s & ICRA Briefing : India’s Macroeconomic, Sovereign & Banking Outlook

Gradual Reforms in Mixed Economic Environment Amid Bank Solvency Challenges

New Delhi,  Tuesday, 20 September 2016 7:00PM – 8:00PM

The Taj Mahal Hotel, New Delhi

Registration starts at 6:30PM

Cocktails and Dinner start at 8:00PM

Discussion Items

·         Do the macroeconomic, fiscal and monetary reforms show only incremental progress?

·         What are the implications of recent developments on the economy and fiscal metrics?

·         Are Indian banks close to cleaning up their balance sheets?

·         How can the banks resolve their solvency challenges?

·         Can the banks raise capital through masala bonds or equity?

 

Speakers

Atsi Sheth, Managing Director, Sovereign Risk Group, Moody’s

Marie Diron, Senior Vice President, Sovereign Risk Group, Moody’s

Alka Anbarasu, Vice President – Senior Analyst, Financial Institutions Group, Moody’s

Aditi Nayar, Vice President & Senior Economist, ICRA

Karthik Srinivasan, Senior Vice President, Co-Head Financial Sector Ratings, ICRA

Registration is required. To register, please click HERE.

Moody’s Webcast : China Credit An Onshore Bond Market Dislocation Would Be Unlikely to Lead to Systemic Financial Crisis Tuesday, 16 August 2016 15:00 Hong Kong / 16:00 Tokyo / 17:00 Sydney

Moody’s Webcast : China Credit – An Onshore Bond Market Dislocation Would Be Unlikely to Lead to Systemic Financial Crisis

Tuesday, 16 August 2016, 15:00 Hong Kong / 16:00 Tokyo / 17:00 Sydney

Discussion Items

·         What are the effects from defaults in China’s onshore bond market?

·         Would tightening in liquidity trigger serious funding problems?

·         Would banks face disruptions from bond defaults?

·         What is the authorities’ likely strategy on defaults?

Speakers
Michael Taylor, Managing Director and Chief Credit Officer, Asia Pacific

Lillian Li, Vice President – Senior Analyst, Credit Strategy and Standards

Ivan Chung, Associate Managing Director, Greater China Credit Research and Analysis(Q&A)

Yulia Wan, Assistant Vice President – Analyst, Financial Institutions Group (Q&A)

George Xu, Associate Analyst, Credit Strategy and Standards (Q&A)

The entire session — with prepared remarks and the Q&A — will last about one hour.  If you wish to participate, please RSVP early.

 REGISTER HERE

Registration Is Required

Replay information will be provided to registrants after the session. 

Submit Questions in Advance

Participants are encouraged to submit questions in advance of the session by clicking here.

[Invitation] Moody’s Webcast: Asian Port Operators: Credit Profiles Presurred by Rising Challenges, 4 August 2016, 15.00 HKT

Moody’s Webcast : Asian Port Operators : Credit Profiles Pressured by Rising Challenges

Thursday, 4 August 2016, 12:30 Mumbai / 15:00 Hong Kong / 17:00 Sydney

Discussion Items

·         Lackluster global growth and high capex commitments are driving challenges

·         Transshipment ports are more exposed than gateway ports

·         Deteriorating export competitiveness is pressuring Chinese port operators

·         Most port operators have scope to take remedial measures 

Speakers

Terry Fanous, Managing Director, Project, Public and Infrastructure Finance Group

Arnon Musiker, Senior Vice President

Ray Tay, Vice President – Senior Analyst

Osbert Tang, Vice President – Senior Analyst

Abhishek Tyagi, Vice President – Senior Analyst

The entire session — with prepared remarks and the Q&A — will last about one hour.

If you wish to participate, please RSVP early 

REGISTER HERE

Registration Is Required

Replay information will be provided to registrants after the session.

Submit Questions in Advance

Participants are encouraged to submit questions in advance of the session by clicking here.

 

Moody’s Global Teleconference Series: Risks from Rising Emerging Markets External Debt (APAC) (10:00 Hong Kong / 11:00 Tokyo / 12:00 Sydney), 4 August 2016

Moody’s Global Teleconference Series:
Risks from Rising Emerging Markets External Debt

August 3 & 4
Moody’s Investors Service will be hosting two teleconferences to discuss recent trends in emerging market debt and the risks and vulnerabilities they create. Please click on your preferred date and time below to register.

Americas/EMEA: Wednesday, August 3, 201610:00AM EDT / 3:00PM BST / 4:00PM CEST
This session will be led by:
» Anne Van Praagh, Managing Director, Credit Strategy and Research (Moderator)
» Elena Duggar, Associate Managing Director, Credit Strategy and Research
» Meredith Roscoe, Vice President – Senior Research Analyst, Credit Strategy and Research
» Dietmar Hornung, Associate Managing Director, Sovereign Risk Group
» Mauro Leos, Vice President – Senior Credit Officer / Manager, Sovereign Risk Group
» Anushka Shah, Assistant Vice President – Analyst, Sovereign Risk Group

The following topics will be discussed: 
» What are the recent trends in public and private sector external debt across regions?
» How large is debt issued through off-shore subsidiaries?
» How do Emerging Europe, Latin America, Asia Pacific and the Middle East and Africa regions compare?
» What are the implications for emerging markets vulnerability to external debt crises?
» Which countries are most vulnerable?

APAC: Thursday, August 4, 201610:00AM HKT / 11:00AM JST / 12:00PM AEST
This session will be led by:
» Michael Taylor, Managing Director, Chief Credit Officer – APAC (Moderator)
» Elena Duggar, Associate Managing Director, Credit Strategy and Research
» Meredith Roscoe, Vice President – Senior Research Analyst, Credit Strategy and Research
» Anushka Shah, Assistant Vice President – Analyst, Sovereign Risk Group

The following topics will be discussed:
» What factors explain the tripling of emerging market debt in the past decade?
» Does the changing balance between public and private sector debt increase emerging market vulnerability?
» Is Asia at risk of a re-run of the 1997-98 financial crises?
» How significant a risk factor is debt issued through off-shore subsidiaries?

Additional analysts will be available to answer questions on both calls.

Both calls will last approximately 60 minutes. A replay will be available in a post-event email.
Registration for both is required. Please click on your preferred session to receive the dial-in details.

Participants are encouraged to submit their questions prior to the event. Please email asiaevents@moodys.com.

Moody’s Global Teleconference Series: The Credit Performance of Infrastructure Debt July 21

Moody’s Investors Service will be hosting two teleconferences to discuss the recently published Infrastructure Default and Recovery Rates, 1983-2015Please click on your preferred date and time below to register.

APAC: Thursday, July 21, 201610:00AM HKT / 11:00AM JST / 12:00PM AEST
» Please click here to register for the APAC session

Both sessions will be led by:
» Andrew Davison, Senior Vice President, Project & Infrastructure Finance (Moderator)
» Suzanne Wingo, Global Group Credit Officer, Project & Infrastructure Finance
» Federico Beckmann, Credit Strategy and Standards Analyst, Project & Infrastructure Finance
» Varun Agarwal, Assistant Vice President, Credit Strategy and Standards

The following topics will be discussed: 
» The nature of Infrastructure and the composition of Moody’s rated portfolio of Infrastructure Debt
» Trends in credit quality, including rating transition
» Default rates, recovery rates and credit loss rates
» Rating accuracy and performance

These calls will last approximately 45 minutes. A replay will be available after the call.

Registration for all calls is required. Please click on your preferred session to receive the dial-in details.

Moody’s : Brexit: Post-Referendum Discussion – Cross-Sector Implications of Vote to Leave the EU – Teleconference & Live Webcast Series – 4 July 2016, 3pm HKT

In light of the UK public’s vote to leave the EU, Moody’s Investors Service will hold a teleconference and live webcast series to discuss our views on the credit implications of Brexit across a range of sectors. These include: sovereign, sub-sovereign, corporates, infrastructure, and banking. We will discuss the possible scenarios and timing for the UK’s withdrawal process from the EU and its future relationship with the single market.

This discussion will include the following topics:

» What does Brexit mean for the sovereign rating?
» How will different trade agreements affect the sovereign rating and other sectors over
the medium to long term?
» UK banks’ profits likely to be impacted, but what about their overall credit?
» What will likely be the near-term reaction of UK and non-UK companies?
» What are some of the medium term implications for the public sector?

Speakers on these calls:
» Colin Ellis, Managing Director, Credit Policy (moderator)
» Kathrin Muehlbronner, Senior Vice President, Sovereign Risk
» Simon Ainsworth, Senior Vice President, EMEA Banking
» Richard Morawetz, Vice President – Senior Credit Officer, Corporate Finance
» Graham Taylor, Vice President – Senior Analyst, EMEA Infrastructure Finance
» Jennifer Wong, Vice President – Senior Analyst, Moody’s Public Sector Europe

The prepared remarks will last approximately 30 minutes and will be followed by a 30 minutes Q&A session. Analysts from the structured finance group will be also available during the Q&A.

EMEA/APAC
Monday, 4 July 2016
8:00am BST / 3:00pm HKT / 5:00pm AEST
Register here >>

Participants are encouraged to submit their questions prior to the event. Please emailevents.emea@moodys.com.

Moody’s Teleconference: Global Shipping Industry Outlook, Tue, July 5, 2016 3:00 PM HKT

Moody’s Investors Service will hold a teleconference on Tuesday, 5 July 2016 to discuss the Global Shipping Industry.

This discussion will be led by:
» Ian Lewis, Associate Managing Director, Corporate Finance Group
» Maria Maslovsky, Vice President – Senior Analyst, Corporate Finance Group
» Mariko Semetko, Vice President – Senior Analyst, Corporate Finance Group
» Brian Grieser, Vice President – Senior Analyst, Corporate Finance Group
The following topics will be discussed:
» Worsening aggregate earnings outlook for 2016
» Continued weak conditions for the dry bulk segment
» Oversupply in the container shipping segment
» Moody’s more subdued outlook on the tanker segment
» Factors that could change the outlook to stable

The related report may be viewed at the following link:
Shipping-Global: Low Freight Rates and EBITDA Decline Drive Negative Outlook (June 22, 2016)

The discussion will last approximately 30 minutes and will be followed by an opportunity to engage with the analysts during the Q&A session.  Registration is required via REGISTER NOW to participate in this teleconference.

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Moody’s Global Teleconference Series (APAC): Green Bonds Assessment Methodology, Wednesday, 6 April 2016, 10am HKT

Moody’s Global Teleconference Series (APAC): Green Bonds Assessment Methodology
Wednesday, 6 April 2016 10:00 Hong Kong / 11:00 Tokyo / 12:00 Sydney
Discussion Items

·         Green Bonds Assessment: Methodology for assessing green bonds

·         Request for Comment feedback

·         1st Quarter 2016 green bonds market update in brief

Speakers

Brian Cahill, Managing Director – Asia Pacific, Corporate and Financial Institutions

Henry Shilling, Senior Vice President, ESG Ratings and Research

The entire session — with prepared remarks and the Q&A — will last about one hour. If you wish to participate, please RSVP early.

 REGISTER HERE

 Registration Is Required,  Replay information will be provided to registrants after the session.

Submit Questions in Advance : Participants are encouraged to submit questions in advance of the session by clicking here.

 Related Teleconference

Americas/EMEA: Wednesday, 6 April 2016

10:00AM EDT / 3:00PM BST / 4:00PM CEST

 Related Research

·         Press Release: Moody’s publishes methodology on Green Bonds Assessment, 30 March 2016

·         Methodology: Green Bonds Assessment (GBA), 30 March 2016

Moody’s Teleconference Series: Global Macro Outlook 2016-17 – Global Growth Faces Rising Risks at Time of Policy Constraint 22 & 23 February 2016

Moody’s Teleconference Series:
Global Macro Outlook 2016-17 – Global Growth Faces Rising Risks at Time of Policy Constraint
22 & 23 February 2016
Downside risks to global growth have increased since our last Global Macro Outlook as a further fall in oil prices and concerns about weaker growth in China and potential further currency weakness have accompanied a rise in risk aversion and tightening of financial market conditions. If prolonged, the higher funding costs and constrained market access for many high-yield corporates could have a larger impact on investment and economic growth than currently incorporated in our forecasts.


The following topics will be discussed:
» What role will policy support play in China’s gradual slowdown?
» What economic outlook for policy-constrained Brazil, Russia and South Africa?
» What are the factors behind a lackluster growth outlook in the US, Europe and Japan?
» What are the main downside risks to the global economy?

EMEA/AMERICAS: 22 February 2016 – 09:00 EST / 14:00 GMT / 15:00 CET
This session, also available via webcast, will be led by:

» Bart Oosterveld, Managing Director, Public Sector Credit Strategy and Standards (moderator)
» Marie Diron, Senior Vice President, Sovereign Risk Group

APAC: 23 February 2016 – 11:00 HKT / 12:00 JST / 14:00 AEDT
This session, also available via webcast, will be led by:

» Michael Taylor, Managing Director, CCO, APAC (moderator)
» Marie Diron, Senior Vice President, Sovereign Risk Group

These calls will each last approximately 45 minutes.

Registration for both calls is required. Please click on your preferred session to receive joining instructions.

Moody’s Teleconference – Japan Credit Series: Support Assumptions for Japanese Megabank Holding Company Debt, Tuesday, 16 February 2016, 9:00am Hong Kong / 10:00am Tokyo / 12:00pm Sydney / 5:00pm US West Coast

Moody’s Teleconference
Japan Credit Series:
Support Assumptions for Japanese Megabank Holding Company Debt
Register Now Button
Events Details
Tuesday, February 16, 2016
9:00am Hong Kong
10:00am Tokyo
12:00pm Sydney
5:00pm US West Coast
Moody’s Investors Service will hold a teleconference on Tuesday, 16 February 2016 to discuss support assumptions for Japanese megabank holding company debt.

This discussion will be led by:
» Graeme Knowd, Managing Director – Banking, Financial Institutions Group (Moderator)
» Shunsaku Sato, Vice President-Senior Credit Officer, Financial Institutions Group
» Tetsuya Yamamoto, Vice President-Senior Analyst, Financial Institutions Group

The following topics will be discussed:
» Level of government support incorporated into holding company debt
» Government’s willingness and ability to provide pre-emptive support to megabanks
» Support assumptions for holding company debt will change if government moves towards supporting particular debt class

The related reports may be viewed at the following links:
FAQ: Support Assumptions for Senior Unsecured Debt Instruments Issued by Japanese Megabanks (Feb 10, 2016)                         
Announcement: Moody’s incorporates “Very High” support assumptions for all debt classes issued by Japan’s megabanks (Feb 10, 2016)

This call will last approximately 60 minutes and registration is required.
Register Now Button

Moody’s Teleconference: Australian 2016 Credit Outlook (APAC), 17 February 2016

Moody’s Teleconference : Australian 2016 Credit Outlook – Impact of External Risks and Domestic Rebalancing on Australian Credit

Wednesday, 17 February 2016,  11:00 Hong Kong / 12:00 Tokyo / 14:00 Sydney

Discussion Items

·         Australia’s economic and sovereign outlook within a global context

·         Recent market volatility and credit implications

·         China, commodities, currency and confidence

·         Real estate, interest rates and regulation

Speakers
Atsi Sheth, Associate Managing Director, Sovereign Risk Group

Patrick Winsbury, Associate Managing Director, Corporate Finance and Financial Institutions Groups
Jennifer Wu, Associate Managing Director, Structured Finance Group

Arnon Musiker, Vice President – Senior Credit Officer, Infrastructure Finance Group
Debra Roane, Vice President – Senior Credit Officer, Sub-Sovereign Group

The entire session — with prepared remarks and the Q&A — will last about one hour

If you wish to participate, please RSVP early. Dial-in numbers will be provided.

 REGISTER HERE

 Registration Is Required

Replay information will be provided to registrants after the teleconference.

Submit Questions in Advance

Participants are encouraged to submit questions in advance of the teleconference by clickinghere.

Webinar : Multi-Period Credit Risk Analysis: A Macro-Scenario Approach. Nov 12, 9am ET

Multi-Period Credit Risk Analysis: A Macro-Scenario Approach

Host: Juan Licari
Date: November 12, 2015
Time: 9:00 a.m. ET / 2:00 p.m. GMT
Register now

SPONSORED BY PRMIA • NOVEMBER 12, 2015 • 2:00 PM GMT

Dynamic stress testing and multi-period credit portfolio analysis are increasingly becoming priorities for risk managers. However significant challenges emerge when it comes to building stochastic multi-period environments.

In this presentation, Dr. Juan Licari of Moody’s Analytics will present an innovative framework for stochastic scenario generation that allows risk managers and economists to build multi-period environments, integrating conditional credit and market risk modeling to meet dynamic stress testing needs.

Webinar : Quantifying Risk Appetite in Limit Setting, 11am ET, Nov 3, 2015

Quantifying Risk Appetite in Limit Setting

Date: Tuesday, November 3, 2015
Time: 8:00 am (San Francisco) / 11:00 am (New York) / 4:00 pm (London)

Moderator: Andy Condurache, Director of Research and Publications

Presenter: Dr. Amnon Levy, Managing Director of Portfolio and Balance Sheet Research is responsible for research and model development for Moody’s Analytics portfolio and balance sheet models. Dr. Levy has led several research initiatives, including modeling credit portfolio risk, integrated models for balance sheet management and liquidity risk.

Risk appetite is a concept that many firms have trouble quantifying and incorporating into their management activity. In addition to prudent business practices, there are very specific capital requirements around having a clear statement of risk appetite and incorporating it into business decision making.

Webinar Highlights:

  • Overview of a number of approaches for setting risk- and macro scenario-based limits to quantify a risk appetite statement
  • How risk-based limits with risk-based metrics align with an organization’s risk appetite
  • Business applications and best practices for setting limits

Register Today

Moody’s Risk Perspectives – Integrated Risk Management Edition

Moody’s Analytics Launches Risk Perspectives –
Integrated Risk Management Edition

We are pleased to announce the newest edition of Risk PerspectivesTMmagazine. With risk management still highly fragmented and in silos at many firms, this edition focuses on helping financial institutions achieve truly integrated risk management so they can thrive in a world of ongoing regulatory, business, and industry demands.

The publication offers actionable insight to assist risk professionals in their day-to-day efforts to comply with new regulatory guidelines, master data management and infrastructure questions, and create value for their organization through more integrated and leaner risk management. It contains four sections:

  • Rethinking Risk Management  Discusses how banks can integrate their risk management framework, and benefit from synthesizing all the elements of risk
  • Regulatory Spotlight Looks at how integrated risk management will impact financial institutions’ preparation for regulations
  • Approaches to Implementation  Examines how to navigate the complexity that still hinders the integration of risk management and pinpoints key opportunities
  • Principles and Practices  Highlights effective practices for applying integrated risk management to your organization

To access your FREE copy, please click here to download the PDF version. To read the articles online, please click here. You will need to create a free account on MoodysAnalytics.com to gain unlimited access to our content, including Risk Perspectives.

Moody’s Teleconference Invitation: Lodha Developers Private Limited: Behind the First-Time (P) Ba3 Ratings, 26 November 2014, 130pm

Moody’s Teleconference  Lodha Developers Private Limited: Behind the First-Time (P) Ba3 Ratings   Wednesday, 26 November 2014, 13:30 India / 16:00 Hong Kong / 17:00 Tokyo
Discussion Items

·         Overview of the Indian real estate sector

·         Key factors driving Lodha’s credit profile

·         A look at how its credit profile is expected to improve by 2017

·         Comparing Lodha with Indiabulls Real Estate Limited

·         How the proposed bond structure mitigates subordination risk

·         Assessing the covenant quality of the proposed notes

Speakers

Philipp Lotter, Managing Director, Corporate Finance Group

Vikas Halan, Vice President – Senior Credit Officer

Jake Avayou, Vice President, Senior Covenant Analyst

Vincent Tordo, Associate Analyst

The entire session — with prepared remarks and the Q&A — will last about one hour.

If you wish to participate, please RSVP early. Dial-in numbers will be provided.

REGISTER HERE

Registration Is Required


Replay information will be provided after the teleconference.

Submit Questions in Advance

Participants are encouraged to submit questions in advance of the teleconference by
clicking here.

Related Research and Methodologies       

·         Press Release: Moody’s assigns (P) Ba3 ratings Lodha Developers, 24 November 2014

Moody’s Teleconference : Chinese Automakers – Key Credit Drivers and Considerations, Nov 19, 12pm IST

Moody’s Teleconference  : Chinese Automakers – Key Credit Drivers and Considerations

Wednesday, 19 November, 2014  14:30 Hong Kong / 15:30 Tokyo / 17:30 Sydney

Discussion Items

·         Product diversity needed for China’s large and diverse market

·         Sino-foreign JVs empower Chinese makers to compete in more sophisticated market

·         Analytical adjustments allow holistic analysis of credit profiles

Speakers

Gary Lau, Managing Director, Corporate Finance Group

Ivan Chung, Senior Vice President, Greater China Credit Research and Analysis

Gerwin Ho, Vice President – Senior Analyst, Corporate Finance Group (Q&A)

The entire session — with prepared remarks and the Q&A — will last about one hour.

If you wish to participate, please RSVP early. Dial-in numbers will be provided.

 REGISTER HERE

 Registration Is Required

Replay information will be provided after the teleconference.

Submit Questions in Advance

Participants are encouraged to submit questions in advance of the teleconference by
clicking here.

Related Teleconference

In Putonghua: Wednesday, 19 November 2014,

11:00 Beijing / Hong Kong

 Related Research and Methodologies       

Press Release: Moody’s: Partnerships and product diversity strengthen the credit quality of big Chinese automakers, 5 November 2014

·         Sector In-Depth: Partnerships and Product Diversity Strengthen the Credit Quality of Big Chinese Automakers, 4 November 2014

 A complete list of Moody’s methodologies may be found here.