Credit Currents - Moody's Ratings

Original publish date: September 16, 2020Inside this episode:Gersan Zurita of the Credit Strategy & Research team discusses the steep decline in Mexican employment resulting from the COVID-19 pandemic and why the road to recovery will be long. Evan Wohlmann of the Sovereign team explains how heightened political instability in Belarus is negative for the country’s sovereign credit quality.​​​Related content:Credit Conditions – Mexico: Steep job losses and slow recovery prospects will deepen economic malaiseGovernment of Belarus – B3 Stable: Regular updateMoody's Emerging Markets Focus  © 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Original publish date: September 2, 2020Inside this episode:Elena Duggar discusses the Credit Strategy & Research team’s analysis of the four main causes of sovereign bond defaults and how environmental, social and governance issues can be contributing factors. Atsi Sheth explains how increased manufacturing output and Chinese economic activity point to an incipient rebound in global trade.​​​Related content:Global Trade Monitor – August 2020The causes of sovereign defaultsCOVID-19 will accelerate supply chain shifts in a more fragmented trade systemMoody's Emerging Markets Focus  © 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Original publish date: August 19, 2020Inside this episode:Christian de Guzman of the Sovereign team discusses how lower wages and the fall in employment of migrant workers in advanced economies will result in a decline in remittances to some developing economies. Banking team analyst Nitish Bhojnagarwala talks about our outlook for the issuance of Islamic sukuk bonds.​Related content:Sukuk issuance set for modest decline despite coronavirus outbreakLower remittances after coronavirus to hurt consumption, raise external risks in major recipient countriesMoody's Emerging Markets Focus  © 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Original publish date: August 5, 2020Inside this episode:Corporates analyst Lahlou Meksaoui discusses the credit outlook for UAE property developers. Sean Hwang, also from the Corporates team, talks about prospects for a revival of Macao's gaming sector.​​​Related content:Double hit from coronavirus and oil price slump will erode credit quality for mostEnd of quarantine for mainland tourists is credit positive for gaming companiesMoody's Emerging Markets Focus  © 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Original publish date: July 22, 2020Inside this episode:Artem Frolov of the Corporates team provides insight about our cautiously optimistic view of Russian oil companies’ credit dynamics despite the adverse operating environment. Michael Higgins of the Sovereign team discusses the challenges and recovery prospects for non-investment grade emerging and frontier market sovereigns.​​Related content:Russian oil majors’ credit quality will stay solid despite coronavirus, oil price pressureCoronavirus shock triggers sharp economic downturn and intensifies fiscal and external liquidity challengesMoody's Emerging Markets Focus  © 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Original publish date: July 8, 2020Inside this episode:Sarah Carlson of the Sovereign team examines Turkey’s economic and credit prospects following the coronavirus shock.Merxe Tudela Carreres of the Model Development group discusses the findings of Moody’s new EM Financial Conditions Indicators series.​​​​Related content:Financial conditions stabilise, but pandemic fallout casts shadow on H2 credit prospectsMoody's Emerging Markets Focus  © 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Original publish date: June 24, 2020Inside this episode:David Rogovic of the Sovereigns team discusses how the global travel slump is hurting emerging market countries, particularly small island-economies with a heavy dependence on tourism revenue. Barbara Mattos of the Corporates team shares insights as to how Brazilian mining giant Vale, a bellwether for the sector, is faring after coronavirus related disruption to its operations. ​​​​​​​Related content:Lack of economic diversification and fiscal space leave small, island economies vulnerable to sustained drop in tourismCoronavirus outbreak halts Itabira, a credit negative for operational stabilityMoody's Emerging Markets Focus  © 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Original publish date: June 10, 2020Inside this episode:Michael Taylor of the Credit Strategy & Research team discusses the prospects for economic recovery and employment stability in China as the country tries to revitalize growth following the coronavirus.Kelvin Dalrymple from the Sovereign team talks about the twin shocks for East Africa of the coronavirus and a locust infestation that threatens the region’s crops.​Related content:Policy sessions indicate economic recovery, employment are government's top prioritiesWorld Bank's emergency funding for East Africa points to risks from intensifying locust swarmsMoody's Emerging Markets Focus  © 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Original publish date: May 27, 2020Inside this episode:Lucie Villa of the Sovereign team discusses a debt relief initiative for low-income countries grappling with liquidity pressures. Daniela Jayesuria of the Structured Finance team offers insights on coronavirus-related debt moratoriums for individual and corporate borrowers in Latin America, one of the biggest securitization markets in emerging markets.​​​​​Related content:Rating Action: Moody's places Pakistan's B3 rating under review for downgradeGovernment of Ethiopia – B2 RUR; Update following downgrade and initiation of review for further downgradePolicy support will mitigate economic damage but will not avert recessionsMoody's Emerging Markets Focus  © 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Original publish date: May 13, 2020Inside this episode:Atsi Sheth of the Credit Strategy and Research team shares insights on how the coronavirus will likely push the global economy into recession this year, and why the downturn poses particular risks for emerging markets. Sean Marion of the Financial Institutions team discusses why credit risks are rising for South African banks.​​​​​Related content:Coronavirus and the Economy: Alternative Data MonitorGlobal Macro Outlook 2020-21 (April 2020 Update): Global recession is deepening rapidly as restrictions exact high economic costBanking System Outlook Update - South Africa: Credit profiles will weaken as the coronavirus pushes economy into recessionMoody's Emerging Markets Focus  © 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.