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.
  • SUMMARY
  • REPORTS
  • Videos & podcasts
  • CRE Impact Dashboard
  • Live View
  • News Sentiment Analysis
  • Moody's response to the pandemic

  • SECTOR IN-DEPTH
    28 May 2020|Moody's Investors Service
    High frequency and alternative data indicators in May indicate the economic shock from the coronavirus pandemic will be concentrated in the second quarter, in line with our expectations. We forecast a slow recovery in the second half of the year for most economies.
    Global Ratings Review Summaries
    SECTOR PROFILE
    27 May 2020|Moody's Investors Service
    The credit impact of the pandemic has manifested via three broad channels: lower growth, the fall in oil prices, and reduced access to financing. Of the 54 mostly negative sovereign rating actions that we have announced so far this year, 23 were the direct result of the coronavirus pandemic.
    SECTOR PROFILE
    18 May 2020|Moody's Investors Service
    This report highlights our research insights and rating activities in the week ended 15 May.
    SECTOR IN-DEPTH
    12 May 2020|Moody's Investors Service
     Over the past 100 years, ratings have often moved together with the credit cycle, exhibiting procyclical behaviour. However, there is no indication that ratings have amplified market cycles.

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    PODCAST
    27 May 2020|Moody's Investors Service
    Lucie Villa of the Sovereign team discusses a debt relief initiative for low-income countries grappling with liquidity pressures. Also, Daniela Jayesuria of the Structured Finance team offers insights on coronavirus-related debt moratoriums for individual and corporate borrowers in Latin America, one of the biggest securitization markets in emerging markets.​​​​​
    Coronavirus Policy ResponseView more
    SECTOR IN-DEPTH
    28 May 2020|Moody's Investors Service
    Policy responses provide some protection for economies, but will increase debt. Governments who fail to present credible strategies to repair balance sheets will likely face credit pressure.
    SECTOR COMMENT
    25 May 2020|Moody's Investors Service
    Italian banks advanced €13 billion of credit to corporates under a government loan guarantee programme that ends in December 2020 and aims to offset the economic effect of the coronavirus pandemic.
    Macroeconomic commentaries and scenarios
    WEBINAR REPLAY
    30 Apr 2020|Moody's Analytics
    In this webinar, Mark Zandi and the Moody’s Analytics team answer wide-ranging questions from audience participants stemming from the economic impact of COVID-19.
    OUTLOOK
    28 Apr 2020|Moody's Investors Service
    We have lowered our 2020-21 real GDP forecasts for all G-20 economies, as the coronavirus crisis has led to a near shutdown of the global economy. The coronavirus also will have long-term economic implications that reshape trade, consumption patterns, and the nature of work in some sectors.

    SECTOR COMMENT
    05 May 2020|Moody's Investors Service
    About a third of household consumption will either be postponed or lost during the lockdown period. The impact on GDP and corporates will vary, with France and Germany likely perform better.
    WEBINAR REPLAY
    23 Apr 2020|Moody's Analytics
    With the rapid deterioration in the global economy as a result of the COVID-19 pandemic, Moody's Analytics team present an update to our economic outlook for Europe.
    Coronavirus impact on sectorsView more
    SECTOR IN-DEPTH
    25 May 2020|Moody's Investors Service
    About 22% of rated companies have high exposure, up from 20% on 31 March. The effects of disruptions on companies’ credit quality is becoming more apparent. About 39% have moderate exposure.

    SECTOR IN-DEPTH
    28 May 2020|Moody's Investors Service
     Higher mortgage loan delinquencies and defaults will diminish US life insurers' credit strength, particularly for companies with significant exposures to retail and lodging.
    OUTLOOK
    28 May 2020|Moody's Investors Service
     Our negative outlook for the North American auto parts suppliers will abide until we see signs our expectation of an automotive industry recovery in 2021 is taking hold.

    SECTOR IN-DEPTH
    26 May 2020|Moody's Investors Service
     Weaker demand for fuel as a result of the spread of the coronavirus will reduce Chinese refiners' profit margin at a time when refining capacity is increasing.
    SECTOR IN-DEPTH
    26 May 2020|Moody's Investors Service
     The economic consequences of coronavirus and uncertainty about recovery mean credit quality including liquidity is declining more broadly across sectors and companies.

    OUTLOOK
    19 May 2020|Moody's Investors Service
    The industry’s earnings will grow 1%-3% annually over the next 12 to 18 months. The pandemic will pressure growth in certain categories but only temporarily until the virus eventually ebbs. 
    SECTOR IN-DEPTH
    18 May 2020|Moody's Investors Service
     Lower economic growth, high share of speculative-grade ratings and exposure to sectors more vulnerable to the outbreak make Italian companies among the most exposed to coronavirus