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Announcement:

Moody's: Trump election victory to alter landscape in trade, healthcare, financial regulation

09 Nov 2016

New York, November 09, 2016 -- Donald Trump's victory in the presidential election will impact a range of companies operating in several different sectors, says a report by Moody's Investors Service.

The report focuses on five policy areas where the new administration's policies will most likely affect the operating environment. Specifically, these are international trade, financial regulation, healthcare, immigration and corporate taxes.

"Trump's victory in the presidential election is likely to bring a set of policies that diverge sharply from those of the prior administration," said Robard Williams, a Senior Vice President at Moody's.

For example, on international trade Trump has stated an intention to renegotiate trade relationships with the US's largest trade partners, China, Canada and Mexico, and to impose severe tariffs on imports from certain countries to extract concessions to trade deals.

Moody's believes that policies that result in a disruption to the flow of goods and services between the US and its trading partners would be negative for industries including autos, oil, technology. However, it would be positive for industries facing severe import competition, such as steel and manufacturing subsectors.

On healthcare, Trump has advocated repealing the Affordable Care Act. While this could create confusion in the short run if not handled correctly, it would be a positive for health insurers in the long run, giving them greater flexibility in designing, pricing, and underwriting policies. At the same time, though, any reduction in the number of insured individuals would have credit negative implications for public and private healthcare providers and medical device manufacturers.

In the area of financial sector regulation, Trump has stated his intention to temporarily suspend all new regulation and also proposed eliminating the Dodd-Frank Act. While a reduction in regulatory compliance costs would bolster bank earnings, reduced oversight and a roll-back of requirements would also result in a weakening a of banks' capital and liquidity positions, a negative from a credit perspective.

The report examines the proposed policies at face value, acknowledging that they may be adjusted over time, or even fail to be implemented.

Moody's subscribers can access the report "Cross-Sector -- US; Trump's Election Victory to Shift Ground on Trade, Financial Regulation, Healthcare," on Moodys.com at https://www.moodys.com/researchdocumentcontentpage.aspx?docid=PBC_1048448

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NOTE TO JOURNALISTS ONLY: For more information, please call one of our global press information hotlines: New York +1-212-553-0376, London +44-20-7772-5456, Tokyo +813-5408-4110, Hong Kong +852-3758-1350, Sydney +61-2-9270-8141, Mexico City 001-888-779-5833, São Paulo 0800-891-2518, or Buenos Aires 0800-666-3506. You can also email us at mediarelations@moodys.com or visit our web site at www.moodys.com.

This publication does not announce a credit rating action. For any credit ratings referenced in this publication, please see the ratings tab on the issuer/entity page on www.moodys.com for the most updated credit rating action information and rating history.

Robard Williams
Senior Vice President
Credit Strategy & Standards
Moody's Investors Service, Inc.
250 Greenwich Street
New York, NY 10007
U.S.A.
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653

Anne Van Praagh
MD-Gbl Strategy & Research
Credit Strategy & Standards
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653

Releasing Office:
Moody's Investors Service, Inc.
250 Greenwich Street
New York, NY 10007
U.S.A.
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653

No Related Data.
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