See Moody's latest initiatives in response to the COVID-19 crisis

Extensive credit shocks are hitting sectors, regions and markets

The corporate rating actions resulting from the pandemic

Monitoring the effects of the outbreak

The six key themes shaping credit markets in 2020

03 Apr 2020|Moody's Investors Service

The spread of coronavirus is slowing economic growth significantly, affecting a bigger swath of North American companies. More than 60% of North American non-financial companies we rate are highly or moderately exposed to the effects of the outbreak today, compared to 45% in our first heat map published 16 March. Non-food retail is now considered highly exposed, while the homebuilding, steel, real estate, and advertising sectors are now moderately exposed.

27 Mar 2020|Moody's Corporation

The economic and trade disruption caused by the coronavirus outbreak is spreading from the APAC region to the rest of the world.  View Moody's latest analysis on our specially created topic page. 

03 Apr 2020|Moody's Investors Service

The two-notch rating downgrade reflects our expectation that private creditors will likely incur substantial losses in the current government debt restructuring process. The economic and financial shock stemming from the coronavirus outbreak has compounded the Argentinean government’s funding stress, forcing it to reduce payments on its debt obligations over the coming years.

01 Apr 2020|Moody's Investors Service

Newly passed federal support legislation, including grants and loans, affords a clearer path for US airlines to manage through the current unprecedented operating environment, with its sharp decline in passenger demand. The payroll protection grants will be a relief valve for airlines' monthly cash use, but the size of the benefit will vary by airline based on each airline's payroll as a percentage of total cash use.

03 Apr 2020|Moody's Investors Service

The unprecedented global economic shock unleashed by the coronavirus outbreak is evolving rapidly. We track high frequency and forward-looking alternative data indicators to gauge the stress on the global economy through demand, supply and financial market transmission channels.

06 Apr 2020|Moody's Investors Service

We expect aggressive fiscal and monetary policy to help limit the depth of the economic shock and provide conditions for a potential recovery in the second half of the year. But the US sovereign’s fiscal strength will deteriorate much faster than we expected, driven by wider deficits and lower growth.

02 Apr 2020|Moody's Investors Service

The 97 companies in this group operate in the airline, auto, oil and gas, gaming, global shipping, retail and hospitality industries. Exposure is moderate for 36% of the rated companies; they operate in the refining and marketing, chemicals, property, mining and steel industries. The low exposure companies (44%) operate in the telecoms and media, IT services, and engineering and construction industries.

Moody's Credit Outlook

Cutting common dividends at large US banks would provide less capital benefit than at European banks

US coronavirus aid package provides modest relief for not-for-profit hospitals

Mexico's prebudget forecasts lower transfers for states and municipalities, a credit negative

Source: Moody's Investors Service
Weekly Market Outlook

Ample Liquidity Shores Up Investment-Grade Credits

We preview economic reports and forecasts from the US, UK/Europe, and Asia/Pacific regions

Pandemic Infects Corporate Credit Quality

Source: Moody's Analytics
Source: Moody's Investors Service
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