Credit Trends

Wednesday, January 23, 2019

January 2019

Conference

Credit Trends

Tuesday, 21 may 2019
Lotte hotel seoul

Credit Trends

Wednesday, January 23, 2019
January 2019
Grand Connaught Rooms
London

Credit Trends

Wednesday, January 23, 2019
January 2019
Grand Connaught Rooms
London

Credit Trends

Wednesday, January 23, 2019
January 2019
Grand Connaught Rooms
London

Credit Trends

Wednesday, January 23, 2019
January 2019
Grand Connaught Rooms
London

Credit Trends

Wednesday, January 23, 2019
January 2019
Grand Connaught Rooms
London

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.

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

Colin Ellis, Managing Director, Credit Strategy

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

Sarah Carlson, Senior Vice President, Sovereign

09.45           Spotlights Conversation

Preparing for the next downturn

Richard Barwell, Head of Macro Research, BNP Paribas Asset Management

Led by Colin Ellis, Managing Director, Credit Strategy

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

Vincent Allilaire, 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?
  • New risks: Competition driven by fintech, cybercrime, Brexit and trade wars

Nick Hill, Managing Director, Banking

Laurie Mayers, Associate Managing Director, Banking

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

Paul Marty, Senior Vice President, Infrastructure Finance

David Beadle, Vice President, Senior Credit Officer, Corporate Finance

Nick Kordowski, Head of Non-Financial Research, Fixed Income, Aberdeen Standard Investments

12.30          Close of the Conference

12.50           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?

Rahul Ghosh, Senior Vice President - Environmental Social Governance, Public Project & Infrastructure Finance
Sarah Carlson, Senior Vice President, Sovereign

Moody's Speakers

Colin Ellis

Managing Director

Chief Credit Officer EMEA

Moody's Investors Service

Moody's Investors Service

Chief Credit Officer EMEA

Managing Director

Colin Ellis

Colin Ellis is Moody’s Chief Credit Officer in EMEA, and a Managing Director in the Credit Strategy team. He is responsible for identifying and analyzing the broad macro and credit trends, and leading and coordinating Moody’s ratings approach, across franchises in the region. He is also a member of Moody’s Macroeconomic Board, which sets the global forecasts that underpin Moody’s universe of ratings.

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Sarah Carlson

Senior Vice President

Sovereign Risk Group

Moody's Investors Service

Moody's Investors Service

Sovereign Risk Group

Senior Vice President

Sarah Carlson

Sarah is responsible for a portfolio of credits that includes the United Kingdom, Ireland, Portugal, and Cyprus. She is also one of the Sovereign Risk Group’s global spokespeople. She joined Moody’s in 2009 after completing a Sloan Fellowship at the London Business School.

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Nick Hill

Managing Director

Financial Institutions Group

Moody's Investors Service

Moody's Investors Service

Financial Institutions Group

Managing Director

Nick Hill

Nick Hill joined Moody’s in March 2010 and is based in Paris where he is responsible for the coverage of banks in France, Benelux, Italy, the UK, Ireland, and the CIS. Nick led the revision of Moody’s bank rating methodology, which was re-published in 2015.

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Laurie Mayers

Associate Managing Director

Financial Institutions Group

Moody's Investors Service

Moody's Investors Service

Financial Institutions Group

Associate Managing Director

Laurie Mayers

Laurie Mayers is an Associate Managing Director in Moody’s European Banking team. Laurie has responsibility for the analytical teams covering bank and non-bank financial institutions in the UK and Ireland as well as for the global investment banks located in EMEA and North America.

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Paul Marty

Senior Vice President, Project & Infrastructure Finance

Moody's Investors Service

Moody's Investors Service

Senior Vice President, Project & Infrastructure Finance

Paul Marty

Paul Marty is a Senior Vice President in Moody’s EMEA Infrastructure Finance team, based in London. He oversees a team of analysts covering regulated and unregulated utilities across EMEA, and is also responsible for a portfolio of utilities in France and Belgium. Over the course of a long career at Moody’s, Paul has covered a broad range of sectors including oil & gas and real estate and is experienced in rating both conventional and complex structured financing arrangements. Paul is an authority on the European utility sector, the lead author of Moody’s rating methodology for regulated electric and gas networks, and currently responsible for Moody’s coverage of some of the largest unregulated utilities in the region. He has published extensively on the utilities sector, authored well-received reports on environmental risks and developments and frequently presents Moody’s views at investor roundtables and other events.

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Rahul Ghosh

Senior Vice President

ESG & Green Bonds

Moody's Investors Service

Moody's Investors Service

ESG & Green Bonds

Senior Vice President

Rahul Ghosh

Rahul Ghosh is a Senior Vice President in Moody’s global Environmental, Social and Governance (ESG) and Green Bonds team. In this capacity, Rahul coordinates the company’s thematic and educational research and outreach initiatives on the impact of ESG considerations for global credit markets. Rahul also serves as a senior analyst for Moody’s Green Bond Assessments (GBAs), which evaluate the effectiveness of an issuer’s approach to managing, administering, allocating proceeds to and reporting on environmental projects financed with green bonds.

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David Beadle

Vice President - Senior Credit Officer

Moody's Investors Service

Moody's Investors Service

Vice President - Senior Credit Officer

David Beadle

David Beadle joined Moody’s in 2014 and covers retail industry credits in the UK and Western Europe as a Vice President – Senior Credit Officer in the EMEA Corporate Finance Group in London. He covers a number of UK retailers, including the grocers, Tesco and Wm Morrison, fuel forecourt operator Euro Garages, and fashion businesses, House of Fraser, Matalan and New Look. His coverage also includes French, German and Dutch issuers. Prior to joining Moody's David had spent more than 15 years as a credit analyst and portfolio manager in the City, most recently with international specialist banking and asset management group, Investec.

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Further information

Any questions please contact:

Jasmine Endres

Assistant Director - Events & Outreach

jasmine.endres@moodys.com