Global Leveraged Finance: Market View
This page offers Moody’s insights into leveraged loans and high yield bonds. It highlights proprietary indicators that assess current and projected credit risk and defaults, our view on spec-grade liquidity health, covenants and refunding risk.
  • SUMMARY
  • REPORTS

  • WEBINAR REPLAY
    14 May 2020|Moody's Investors Service
    In this panel discussion, Paloma San Valentin and William Coley will review the impact of the coronavirus crisis on rated non-financial companies and discuss expectations for the coming quarters.
    US - KEY RISK INDICATORS View All
    22 May 2020
    |
    COMPILATION
    |
    Moody's Investors Service

    SECTOR IN-DEPTH
    15 Apr 2020|Moody's Investors Service
    Score soared to unfavorable 4.2, from 2.2 a quarter ago. Reflects rapid deterioration of all sub-indicators.

    SECTOR IN-DEPTH
    21 May 2020|Moody's Investors Service
    Surging LSI points to aggressive rise in default rate in late 2020.
    SECTOR IN-DEPTH
    23 Mar 2020|Moody's Investors Service
    The vast majority of first-lien leveraged loans have little or no covenant protection and often no loss-absorbing debt below them, leaving lenders poised for worse recoveries in a downturn.
    EMEA - KEY RISK INDICATORS View All
    20 Mar 2020
    |
    COMPILATION
    |
    Moody's Investors Service

    COMPILATION
    20 Mar 2020|Moody's Investors Service
    Downgrades remain high in February 2020.

    COMPILATION
    20 Mar 2020|Moody's Investors Service
    Issuance nosedives in February 2020.
    COMPILATION
    20 Mar 2020|Moody's Investors Service
    The European covenant quality indicator (E-CQI) for Q4 2019 remained just above the lowest level ever recorded in Q4.
    APAC - KEY RISK INDICATORS View All
    27 Apr 2020
    |
    SECTOR IN-DEPTH
    |
    Moody's Investors Service

    SECTOR IN-DEPTH
    11 May 2020|Moody's Investors Service
    ALSI registered the weakest reading on record of 40.1% in April, up from 38.7% in March.

    COMPILATION
    11 May 2020|Moody's Investors Service
    YTD issuance remained at $15.9 billion, largely reflecting issuance in January; market access largely shut to high-yield companies in April.
    COMPILATION
    27 Apr 2020|Moody's Investors Service
    Asian CQ scores continue weakening trend.
    LATAM - KEY RISK INDICATORSView All
    27 Apr 2020
    |
    COMPILATION
    |
    Moody's Investors Service

    COMPILATION
    27 Apr 2020|Moody's Investors Service
    Corporate issuance activity in Latin America started off high in 2020, with $3.8 billion in January, but the coronavirus outbreak curbed debt issuance in February and March.

    COMPILATION
    27 Apr 2020|Moody's Investors Service
    Our LatAm Liquidity Stress Indicator (LatAm LSI) increased to 10.4% in March 2020 from 8.6% in December 2019 and is now above the average for the last 12 months of 8.9%.

    KEY CONTACTS
    Christina Padgett (AMERICAS)
    Associate Managing Director – Corporate Finance
    Christina.padgett@moodys.com
    Sandra Veseli (EMEA)
    Managing Director – Corporate Finance
    Sandra.veseli@moodys.com
    Laura Acres (APAC)
    Managing Director – Corporate Finance
    Laura.acres@moodys.com