October 14, 2021
Non-Financial Corporates: COVID-19 Dashboard (Q3 2021)
Recovery in credit quality underway; corporate rating actions reveal a thoughtful and measured approach to credit
September 23, 2021
Data on G20 financial institutions reveals high exposure to carbon transition risk
Moody’s analysis indicates that G20 financial institutions have nearly $22 trillion of exposure to carbon-intensive sectors1. On balance sheet bank loans account for 60% of this, and asset managers’ equity holdings for another 30%. Large rated insurers’ invested assets, which are weighted towards cash and government securities, account for the remainder.
September 22, 2021
United Nations Global Compact (UNGC): 20 years on, much work remains to be done
The UNGC encourages businesses to build a more sustainable future by tackling human rights, labour, anti-corruption and environment principles. Whilst slowly improving, our data indicates that there is still considerable work to be done to better embed these principles into corporate strategies.
August 31, 2021
Remote work uncertainty and falling rents will hurt property tax revenue for some big US cities
Office rents are falling and vacancies are rising in the wake of the shift to working–from–home, and commercial property rents are taking a hit as a result. For five US metros with major business districts – New York, Boston, Chicago, Washington, DC and San Francisco – the impact of lower rents on their property tax revenues will vary according to each city’s tax assessment framework.
August 25, 2021
US and Europe REITs / REOCs’ negative outlook is constrained by tough conditions for office and retail landlords
Rent to fall 1% to 3% at US and Europe REITs / REOCs in the next 12 – 18 months with empty cubicles pointing to problems for office landlords while structural shifts are accelerating for retail landlords
August 16, 2021
Crossover Zone: Potential fallen angels ebb, rising stars grow amid recovery
The Crossover Zone refers to ratings closest to the line between speculative grade and investment grade. Potential fallen angels have begun to ebb and potential rising stars continue to rise as major economies rebound with the roll-out of COVID-19 vaccines. These trends should accelerate in the coming quarters.
July 23, 2021
Property sector plays a key role in China’s economy, with far-reaching and significant influence across other important sectors
Nearly 25% of China's GDP is from property and related sectors along its supply chain. The Chinese government closely regulates the property sector, through policy and control over funding, to ensure its long-term stability and to contain risks to the financial system
July 16, 2021
Social risks will weigh on emerging market sub-sovereigns for years
Regional and local governments in emerging markets generally report weaker infrastructure and higher levels of poverty and inequality than their advanced economy peers. Given their limited capacity to address these challenges, we expect that social considerations will continue to weigh on their growth and financial metrics.
July 15, 2021
Emerging markets have relatively higher exposure and sensitivity to physical climate risk; adaptation strategies still untested
Physical climate risk is broadly credit negative for sovereigns, particularly for emerging markets with climate-dependent economic structures and low-quality infrastructure and healthcare systems. Many have begun to take measures to increase climate resiliency, but fiscal and institutional constraints may slow adaptation efforts, which have yet to be widely tested.
July 15, 2021
Non-Financial Corporates: COVID-19 Dashboard (Q2 2021)
Recovery in credit quality underway; corporate rating actions reveal a thoughtful and measured approach to credit
