Insights

Get unique additional factor model performance by integrating IHS Markit securities lending data with Credit Benchmark consensus credit risk data. Independent research shows that Credit

The Oil & Gas sector was in trouble even before the first Covid lockdown, and it was one of the worst credit performers in 2020. Recent credit agency downgrades for some of the US majors have brought these ratings into alignment with the more conservative bank consensus view.

How do the major players in the GameStop short squeeze compare from a credit perspective? While some firms have multiple agency ratings, many are mainly unrated. Consensus data can fill some key gaps in risk management for all players in this complex network.

Government support for UK businesses is due to end in early 2021, leaving many at-risk companies in debt. A significant increase in default rates may be observed as credit becomes less available. New research from Credit Benchmark shows that UK corporates have a ~20% higher chance of defaulting in 2021 compared to a year ago, suggesting that 1 in 150 companies will default this year.

As supply chains dissolve and reform in response to COVID, combining supply chain network views on Bloomberg with consensus credit risk data can give a more complete picture of the resilience or vulnerability of different sectors and companies.

CDS prices are often cited as a proxy for solvency risk. New research shows some large variations between CDS prices and consensus credit risk data for GSIBs.