Coronavirus Effects
The coronavirus outbreak is disrupting economies and credit markets worldwide. The impact on issuers’ credit profiles and the economy will depend on the severity and duration of the crisis.
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    TitleIssuer/Entity
    01 JUN 2020|Sector Comment|MOODY'S INVESTORS SERVICE
    The house prices decline reduces the value of banks' mortgage collateral and decreases the recovery rate.
    01 JUN 2020|Sector In-Depth|MOODY'S INVESTORS SERVICE
    Higher cash burn amid coronavirus outbreak will lead to refinancing needs around BRL20 billion through 2021, but timely government aid and regulatory support shore up credit quality.
    31 MAY 2020|Sector In-Depth|MOODY'S INVESTORS SERVICE
    Through the end of this year, the economic shock from the coronavirus pandemic and related slowdown of economic activity will further weaken insurers' credit metrics.
    31 MAY 2020|Outlook|Global Risk Perspectives|MOODY'S INVESTORS SERVICE
    Our negative outlook reflects our expectation for a more than 50% drop in EBITDA in 2020, and metallurgical coal used in steelmaking will not help offset declining thermal coal demand.
    29 MAY 2020|Sector Comment|MOODY'S INVESTORS SERVICE
    Closure of hundreds of Victoria's Secret stores piles more pressure on mall owners already struggling with closures, retailers unable to pay their rent and numerous tenant bankruptcies.
    28 MAY 2020|Sector In-Depth|Credit Risks in Turbulent Times|MOODY'S INVESTORS SERVICE
    Key high frequency and alternative data indicators in May suggest the economic shock from the pandemic will be concentrated in Q2, while signs of recovery continue to emerge.
    28 MAY 2020|Sector In-Depth|MOODY'S INVESTORS SERVICE
    EBITDA will fall by the low single digits in 2020. But EBITDA growth in 2021 and 2022 will restore leverage to pre-crisis levels, assuming the virus is contained in the second half of 2020.
    28 MAY 2020|Sector Comment|Credit Risks in Turbulent Times|MOODY'S INVESTORS SERVICE
    There is increased risk of protracted negotiations between the project companies and owners that procured the projects about the pandemic's ultimate cost and schedule effect.
    28 MAY 2020|Sector In-Depth|MOODY'S INVESTORS SERVICE
    Coronavirus-induced market volatility indefinitely clouds the sector's outlook.
    28 MAY 2020|Sector Comment|MOODY'S INVESTORS SERVICE
    As hospitals face severe downturns in revenue because of the suspension of elective procedures due to the coronavirus, more will face covenant breaches. Impact on credit quality will vary.