Is liquidity masking credit quality?

Cyber risk surveys, credit impact on governments and issuers, and more.

Key global credit themes for 2021

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09 Apr 2021|Moody's Investors Service

First-quarter 2021 corporate defaults totaled 13 globally, compared with 30 in last year’s first quarter, as government and central bank actions have played a critical role in averting an otherwise more dire default cycle. We expect the trailing 12-month speculative-grade default rate to fall to 3.2% by the end of the year, down from a likely peak of 6.8% in December 2020.

08 Apr 2021|Moody's Investors Service

The surge in US home prices over recent months is credit positive across a wide range of US housing and housing finance sectors, helping to avert foreclosures, lift issuer revenues and margins, and bolster rental demand.

10 Mar 2021|Moody's Corporation

Moody’s ESG Solutions Group today announced the launch of Climate Solutions, a comprehensive product suite that provides market participants with enhanced risk measurement and evaluation tools to better understand, quantify and manage climate risks and opportunities.

01 Mar 2021|Moody's Investors Service

Championing gender equality through our insights, workplace programs and community partnerships.

08 Apr 2021|Moody's Investors Service

Ted Hampton of the US Public Finance team discusses how the State of Illinois is weathering COVID-19’s financial difficulties while pension obligations continue to weigh on its credit quality. Plus, Earl Heffintrayer and Myra Shankin of the Project and Infrastructure Finance team weigh in on the US airport sector’s improving prospects as passenger levels pick up.​

08 Apr 2021|Moody's Investors Service

High-frequency alternative data indicate a strong rebound in global economic activity even as COVID-19 infection rates rise and restrictive measures remain in place across many countries. Vaccinations in G-20 countries are advancing and the number of fatalities from the virus has declined in recent weeks. Financial conditions remain supportive in the US and euro area but are tightening across some emerging markets.

07 Apr 2021|Moody's Investors Service

After a merger with a publicly traded special purpose acquisition company (SPAC), corporate issuers generally emerge with stronger credit quality, at least initially, with lower debt and improved liquidity. However, the final capital structure can result in significantly higher debt or weaker liquidity if the sponsor cannot find private investors to make up for high redemption rates.

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Source: Moody's Investors Service
Moody's Credit Outlook

Brazil’s central bank authorizes Facebook's money transfer service, adding negative pressure to incumbent banks

Continued economic recovery points to higher rising star rate in 2021

Sovereign default and recovery rates, 1983-2020

Source: Moody's Investors Service
Weekly Market Outlook

Will Excessive Stimulus Lead to Excessive Leverage?

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Latest U.S. Changes Are Credit Positive

Source: Moody's Analytics