In this new podcast series, Moody’s experts from around the globe join host Rahul Ghosh to discuss key economic, financial and credit trends shaping emerging markets. Our first episode looks at what’s ahead for emerging market sovereigns as the coronavirus outbreak spreads and demand for oil drops. We also discuss our outlook for sustainable finance and ESG investing in emerging markets after a landmark year in 2019​​

Low interest rates will reduce net investment income and earnings for interest-sensitive products, weakening profitability, and the coronavirus' economic effects will strain capital through bond rating downgrades and defaults.

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.