Latest Credit Trends April 2020: Covid Crisis Impact
April’s consensus credit data shows the dramatic global impact of the Covid crisis on risk estimates.
Corporate Credit Vulnerability: 5 Major Economies Compared
Download full G5 Corporate Borrower Credit Risk Distributions infographic below. A raft of stimulus packages have been announced by Governments globally in an effort to combat the worst economic effects of the COVID-19 downturn. Tax deferrals, debt repayment holidays and income subsidies are some of the measures proposed to help individuals and companies stay afloat. […]
Corporate Defaults and COVID-19: Credit Migrations Are Key
The IMF anticipate a global recession following the COVID-19 lockdowns. A sharp spike in corporate defaults is inevitable, but this will be mitigated by various Government support programs. Financial history is littered with economic and financial crashes followed by waves of defaults, but this biological crisis is almost unprecedented. Perhaps the nearest equivalent is the […]
Ed Altman Discusses Credit Before and After the Virus
The Covid crisis is probably the first time in history that a globalised, highly interconnected economy has been effectively shut down for at least one quarter. The economic impact is expected to reduce 2020 global GDP by 20-30%, and rescue attempts will push Government debt to levels not seen since the Second World War. Government […]
March Credit Update: Pre-Virus Financial Upgrades Outweigh Downgrades
Download PDF Credit Benchmark has published the latest monthly credit consensus data (from February 2020) based on contributions from 40+ financial institutions, covering 50,000 separate legal entities. The monthly upgrades and downgrades overview is now based on data adjusted for changes in contributor mix. Monthly consensus upgrades and downgrades: Last month showed improvements across 331 […]
Stimulus Promises May Tip the Balance on Sovereign Credit Risk
As COVID-19 unfolds, governments have announced unprecedented stimulus and support packages. Once the dust has settled and the money has been distributed, what view will lenders take on the creditworthiness of these sovereigns?
When Is Credit Data Not Credit Data? When It’s Liquidity Data
In the midst of a major global credit and liquidity transition, the Credit Benchmark dataset can help clients understand how this transition is happening. It is now evident that sometimes credit data is not just credit data – it can also provide valuable liquidity and solvency insight too.
Trade Credit Risk: Which Sectors Are Most Vulnerable During the Virus Crisis?
Download Report Private insurers to become increasingly selective in financial crisis The Trade Credit Insurance market currently handles about $2trn of revenue at risk annually. Most of this is focused on smaller companies that may be critical suppliers or buyers, but who also represent significant risks for operational or credit reasons. Some of these risks […]
Bank Lenders Sound Alarm on Corporate Credit Risk – One-Third of BBB-Rated Bonds on Precipice of High-Yield Bond Cliff
US corporate debt is notoriously overrepresented in the ‘BBB’ rating category, and investors fear that economic pressure could topple these bonds Jenga-style into high-yield status. Enter coronavirus – the rapid spread of the disease has caused a sharp shock to global markets and a swathe of industries are vulnerable to take a profit hit as […]
Risk.net: Rising Tide Lifts Fund Houses – But Can it Last?
Monthly Credit Trends for Top 100 Fund Managers, Global Airlines & Airports, Australian Corporates, and Irish Corporates & Financials.