Credit Trends

Thursday, February 7, 2019

February 2019

Conference

Credit Trends

thursday, November 08, 2018
merchant taylors' hall, london

Credit Trends

Thursday, February 7, 2019
February 2019
Sofitel Frankfurt Opera
Frankfurt

Credit Trends

Thursday, February 7, 2019
February 2019
Sofitel Frankfurt Opera
Frankfurt

Credit Trends

Thursday, February 7, 2019
February 2019
Sofitel Frankfurt Opera
Frankfurt

Credit Trends

Thursday, February 7, 2019
February 2019
Sofitel Frankfurt Opera
Frankfurt

Credit Trends

Thursday, February 7, 2019
February 2019
Sofitel Frankfurt Opera
Frankfurt

Look beyond the short-term shocks into long term risks

Moody’s Credit Trends provides forward looking views that focus on the key credit outlook shifts for the year ahead and long-term market trends and vulnerabilities.

We will take a closer look at what comes next in the credit cycle; what rising trade and protectionism tensions mean to credit; what are the key regional trends across sectors and other topical questions.  

Credit Trends is a unique platform to engage with key market participants -  senior investors, issuers, intermediaries and credit analysts - and gain a deeper understanding of the impact of global, regional and local credit trends across sectors.

What are your expectations for 2019? Share your views on market trends

Why Attend?

<div class="custom-container w-container"><div class="custom-item-holder alt"><img class="custom-item-icon alt" src="https://global-uploads.webflow.com/59faed4401b9500001e97e74/5ae342314cc19f6883e3c11f_discover2-white.png"><div class="custom-item-text-holder"><h1 class="custom-item-heading alt white">Keep track of market risks</h1><p class="custom-item-para alt white">Stay informed about global, regional and local market risks and key rating trends</p></div></div><div class="custom-item-holder alt"><img class="custom-item-icon" src="https://global-uploads.webflow.com/59faed4401b9500001e97e74/5ae342ff8cb7533468114601_Analyze%202.png"><div class="custom-item-text-holder"><h1 class="custom-item-heading alt white">Analyze the credit impact</h1><p class="custom-item-para alt white">Analyze credit outlooks and discover how long-term trends will shape the market in 2019</p></div></div><div class="custom-item-holder alt"><img class="custom-item-icon" src="https://global-uploads.webflow.com/59faed4401b9500001e97e74/5ae3432d0d74803949144d7f_network2.png"><div class="custom-item-text-holder"><h1 class="custom-item-heading alt white">Engage with your peers</h1><p class="custom-item-para alt white">Engage with the global investor and issuer community and get your questions answered by senior credit analysts</p></div></div></div>

Agenda

08.00          Pre-Conference Workshop - 55 min

Strengthen your credit analysis with thematic and sector insights using Moody’s CreditView

Learn how Moody’s CreditView includes deep insight on sector dynamics and themes that can inform your credit analysis. 

Led by Moody’s Analytics

08.30          Registration & Coffee

09.00          Opening Remarks

Matthias Hellstern, Managing Director, Corporate Finance

09.10           Big Picture Presentation

Fading cycle, reform fatigue and political risks: European sovereigns are entering choppy waters

  • A fading cycle and risks from global trade tensions weigh
  • Progress on structural economic reforms will determine those best able to cope with the slowdown in growth
  • Structural fiscal weaknesses as cyclical tail winds weaken and interest rates normalize
  • Politics continue to dominate the credit story for some: Brexit, Italy

Dietmar Hornung, Associate Managing Director, Sovereign

09.45          Spotlight Conversation

Dr. Jörg Krämer, Chief Economist, Commerzbank

10.15            Default and Rating Trends

Recent developments and risks to the outlook

  • Default and rating performance review
  • Credit outlook and risks: Which sectors are more exposed?
  • Recovery rates - Moody's approach and potential risks

Jorge Rodriguez-Valez, Vice President, Senior Credit Officer, Credit Strategy

10.35           Networking & Coffee Break

11.00           Banking Plenary Session

Banks’ resiliency to market and credit shocks

  • How are banks prepared for the next downturn?
  • Reshaping of global investment banks
  • New risks: Competition driven by fintech, cybercrime, Brexit and trade wars

Carola Schuler, Managing Director, Banking

Swen Metzler, Vice President, Senior Credit Officer, Banking

Michael Rohr, Vice President, Senior Credit Officer, Banking

Martin Rast, Vice President, Senior Credit Officer, Structured Finance

11.45           Corporate Plenary Session

Corporate credit quality at the peak of the credit cycle

  • Corporate credit vulnerabilities for the next downturn
  • Which corporate segments are more vulnerable to the next credit cycle?
  • How increasing interest rates, trade wars and Brexit could impact corporate credit quality

Matthias Heck, Vice President, Senior Credit Officer, Corporate Finance

Joanna Fic, Vice President, Senior Credit Officer, Infrastructure Finance

12.30          Close of the Conference

12.45          Post Conference Session - 45 min

Integrating sustainability into credit risk – a rating agency perspective

  • How are material ESG considerations captured in our credit ratings?
  • Which industries are most exposed to carbon transition and physical climate risks?
  • Can social issues drive credit quality? Exploring case studies from the public and private sector.
  • Which corporate governance practices are most relevant to creditors?

Carola Schuler, Managing Director - Banking, Financial Institutions Group
Stanislas Duquesnoy, Vice President, Senior Credit Officer, Corporate Finance
Steffen Dyck, Vice President, Senior Credit Officer, Sovereign

Moody's Speakers

Matthias Hellstern

Managing Director

Corporate Finance Group

Moody's Investors Service

Moody's Investors Service

Corporate Finance Group

Managing Director

Matthias Hellstern

Matthias Hellstern, Managing Director, has been with Moody’s Deutschland GmbH in Frankfurt since October 2004. Matthias is Team Leader in the European Corporate Finance Group heading the Frankfurt-based analytical team focusing on manufacturing industries. The principal industries covered by his team include Auto, Capital Goods, Paper and Packaging, and Building Materials. He is also managing teams in London and Stockholm that are covering the Real Estate, Shipping and Airlines sectors.

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Dietmar Hornung

Associate Managing Director

Sovereign Risk Group

Moody's Investors Service

Moody's Investors Service

Sovereign Risk Group

Associate Managing Director

Dietmar Hornung

Dietmar Hornung, Associate Managing Director, leads the Sovereign Risk Group’s European team, covering the European countries and the European supranationals. Prior to his appointment as team leader, Dietmar was Moody’s lead analyst on a number of European sovereign credits, including Germany, France, Italy, Ireland, Russia, EU, EFSF and ESM.

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Carola Schuler

Managing Director

Financial Institutions Group

Moody's Investors Service

Moody's Investors Service

Financial Institutions Group

Managing Director

Carola Schuler

Carola Schuler is a Managing Director in the Europe, Middle East and Africa banking team, based in Frankfurt. In this capacity, she is responsible for Moody’s analytical teams that rate banks primarily in the Eurozone and Central and Eastern Europe as well as non-bank financial companies across Europe and emerging markets in Middle East and Africa.

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Jorge Rodriguez-Valez

Vice President Senior Credit Officer - CSS

Moody's Investors Service

Moody's Investors Service

Vice President Senior Credit Officer - CSS

Jorge Rodriguez-Valez

Swen Metzler

Vice President - Senior Analyst , Financial Institutions Group

Moody's Investors Service

Moody's Investors Service

Vice President - Senior Analyst , Financial Institutions Group

Swen Metzler

Swen joined Moody�s Investors Service in August 2010 as a member of the of the Financial Institutions Group. He is the lead analyst for several banks in Austria, Denmark, Germany, and Switzerland

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Michael Rohr

Vice President – Senior Credit Officer

Financial Institutions Group

Moody's Investors Service

Moody's Investors Service

Financial Institutions Group

Vice President – Senior Credit Officer

Michael Rohr

Michael Rohr is a member of the Financial Institutions Group and responsible for Moody’s ratings for a variety of financial institutions in Switzerland, Germany and Austria. Michael joined Moody’s in March 2012 from Silvia Quandt & Cie AG where he was Deputy Head of Research leading a team of equity analysts covering European equities. Prior to this function, Michael held various positions at both sell-side and buy-side equity research firms and fund management institutions focused on analyzing European banks.

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Matthias Heck

Vice President - Senior Analyst

Corporate Finance Group

Moody's Investors Service

Moody's Investors Service

Corporate Finance Group

Vice President - Senior Analyst

Matthias Heck

Matthias Heck is a Vice President - Senior Analyst, based in the Frankfurt office, where he is a member of the EMEA Corporate Finance Team. He is responsible for a diverse portfolio of construction, manufacturing, business services and consumer goods companies based in Europe.

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Joanna Fic

Vice President - Senior Credit Officer, Public Project & Infrastructure Finance

Moody's Investors Service

Moody's Investors Service

Vice President - Senior Credit Officer, Public Project & Infrastructure Finance

Joanna Fic

Joanna Fic is a senior analyst in the EMEA Infrastructure Finance team based in London with extensive experience across both the infrastructure and utility sectors. Joanna's portfolio currently includes a number of European transport infrastructure assets as well as regulated and unregulated electric and gas utilities in the region.

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Martin Rast

Vice President – Senior Credit Officer, Structured Finance

Moody's Investors Service

Moody's Investors Service

Vice President – Senior Credit Officer, Structured Finance

Martin Rast

Martin Rast is a Senior Credit Officer with Moody’s Structured Finance Group in London. He joined Moody’s in 2005 and originally was a member of both the Covered Bonds and the SIV team. Martin is lead analyst for several European covered bonds with a focus on German Pfandbriefe. Prior to joining Moody’s, Martin worked for HypoVereinsbank in several roles, including its securitisation department. Martin holds a degree in mathematics from the University of Munich (Germany). His PhD thesis was on numerical optimisation in neural networks.

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Steffen Dyck

Vice President – Senior Credit Officer, Sovereign Risk Group

Moody's Investors Service

Moody's Investors Service

Vice President – Senior Credit Officer, Sovereign Risk Group

Steffen Dyck

Steffen Dyck is a Vice President – Senior Credit Officer in Moody’s Sovereign Risk Group. Based in Frankfurt, he is the lead analyst for a portfolio of European sovereigns and multilateral institutions.

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Stanislas Duquesnoy

Vice President – Senior Credit Officer

Corporate Finance

Moody's Investors Service

Moody's Investors Service

Corporate Finance

Vice President – Senior Credit Officer

Stanislas Duquesnoy

Stanislas Duquesnoy, Vice President – Senior Credit Officer, has been with Moody’s Deutschland GmbH in Frankfurt since August 2007. As lead analyst he is currently responsible for European Building Materials and Investment Holding companies. He has been the lead analyst for European pharmaceutical issuers between 2014 and 2017. Prior to joining Moody’s he spent 7 years in the European banking industry as corporate credit analyst both in Germany and the UK, with BNP Paribas and UBS AG. Stanislas Duquesnoy has graduated from the Ecole Superieure de Toulouse in France and from the Technische Universität of Berlin in Germany as a Diplom- Kaufmann.

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Further information

Any questions please contact:

Jasmine Endres

Assistant Director - Events & Outreach

jasmine.endres@moodys.com