Credit Trends
Thursday, February 13, 2020
February
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Overview

The theme this year – navigating a more fractured world – looks into the impact on credit of increasing polarization, geopolitical risks and the persistently low or negative interest rate environment.

How will these challenges change the outlook for 2020 and beyond? How can credit assessments incorporate new risks?

Join one of the largest credit event series globally bringing together over 2000 investors, issuers, analysts and intermediaries to explore what themes are set to shape credit markets.

The event is free to attend and will be held in Italian.

<div class="custom-container w-container"><h2 class="n-h2">Why Attend?</h2><div class="custom-fa-wrapper"><div class="custom-item-holder latamblue"><div class="custom-icon-fa alt latamblue"><strong class="bold-text-5"></strong><br></div><div class="custom-item-text-holder latamblue"><h1 class="custom-item-heading alt">Turn outlooks into Insights</h1><p class="custom-item-para alt latamblue">Connect the dots between the trends, analysis and uncertainties for the year ahead</p></div></div><div class="custom-item-holder"><div class="custom-icon-fa alt latamblue"><strong class="bold-text-5"></strong><br></div><div class="custom-item-text-holder"><h1 class="custom-item-heading alt">Map out credit risks</h1><p class="custom-item-para alt latamblue">Take a closer look into what shifts will impact sovereign, banking and corporate sectors the most</p></div></div><div class="custom-item-holder"><div class="custom-icon-fa alt latamblue"><br></div><div class="custom-item-text-holder"><h1 class="custom-item-heading alt">Engage with the market</h1><p class="custom-item-para alt latamblue">Network with tinvestors, asset and risk managers, retail and commercial bankers, underwritters and issuers</p></div></div></div></div>

Agenda

08.00Workshop: Strengthen your credit analysis using Moody's CreditView (50min)

Discover how Moody’s CreditView can improve your credit analysis by bringing together credit ratings, research and data from Moody’s Investors Service, as well as research, data and content from Moody’s Analytics. Presented by Moody’s Analytics

08.30 Registration & Coffee

09.00Opening Remarks

Mauro Crisafulli, Associate Managing Director, Country Manager

09.10Sovereign Insight

Navigating choppy waters: Trade tensions, political challenges and a limited policy space

  • Europe in its late cycle: Supportive domestic demand challenged by trade uncertainties
  • Reviewing Europe’s policy tools: What to expect from ECB, fiscal policy and structural reforms?  

Kathrin Muehlbronner, Senior Vice President, Sovereign Risk Group

09.30Plenary Panel

Credit polarization and profitability over the next 12 months

  • Geopolitical risk landscape: Trade reliance
  • Increasing polarization in a period of economic downturn  
  • The impact of low interest rates on cross-sector profitability

Led by Mauro Crisafulli, Associate Managing Director, Country Manager

Kathrin Muehlbronner, Senior Vice President, Sovereign Risk Group

Fabio Ianno, Vice President, Senior Credit Officer, Financial Institutions Group

Donatella Maso, Vice President – Senior Analyst, Corporate Finance Group

Francesca Pilu, Vice President – Analyst, Structured Finance Group

10.15Keynote Spotlights Conversation

Roberto Tasca, Councilor for Budget and State Property, City of Milan

Led by Mauro Crisafulli, Associate Managing Director, Country Manager

10.45Networking Break

11.15Rating & Default Trends Presentation

The only way is up  

  • Trends and forecasts for 2020
  • Default behaviour in the next downturn  

Pier Paolo Vaschetti, Vice President – Senior Credit Officer, Credit Strategy and Standards

11.35Banking Presentation    

Banking outlook and insight into key regional players  

  • Mounting challenges pressuring profitability
  • Digitalisation and Payments Services Directive shifting banks’ business models
  • Regional banks’ vulnerabilities and resilience

Fabio Ianno, Vice President, Senior Credit Officer, Financial Institutions Group

11.50Corporate Presentation    

Corporate outlook and insight into key regional players  

  • Drivers behind negative outlook
  • Developments in credit quality of European issuers
  • Common themes influencing under pressure sectors

Donatella Maso, Vice President – Senior Analyst, Corporate Finance Group

12.05Panel Discussion 

How will ESG and technology risks evolve over the next decade

  • Climate change: Physical and transition risks explored
  • Disruptive technologies: Productivity, profitability, cyber and other risks

Led by Massimo Visconti, Vice President – Senior Credit Officer/Manager, Sub-Sovereign Group

Lorenzo Re, Vice President – Senior Analyst, Corporate Finance Group

Raffaella Altamura, Vice President - Senior Credit Officer, EMEA Infrastructure Finance

Antonello Aquino, Associate Managing Director, Financial Institutions Group

12.35Closing Remarks

Mauro Crisafulli, Associate Managing Director, Country Manager

Alessio Tavecchio remarks on Corporate Social Responsibility

12.45Close of the Conference

Agenda

08.00Workshop: Strengthen your credit analysis using Moody's CreditView (50min)

Discover how Moody’s CreditView can improve your credit analysis by bringing together credit ratings, research and data from Moody’s Investors Service, as well as research, data and content from Moody’s Analytics. Presented by Moody’s Analytics

08.30 Registration & Coffee

09.00Opening Remarks

Mauro Crisafulli, Associate Managing Director, Country Manager

09.10Sovereign Insight

Navigating choppy waters: Trade tensions, political challenges and a limited policy space

Kathrin Muehlbronner, Senior Vice President, Sovereign Risk Group

09.30Plenary Panel

Credit polarization and profitability over the next 12 months

Led by Mauro Crisafulli, Associate Managing Director, Country Manager

Kathrin Muehlbronner, Senior Vice President, Sovereign Risk Group

Fabio Ianno, Vice President, Senior Credit Officer, Financial Institutions Group

Donatella Maso, Vice President – Senior Analyst, Corporate Finance Group

Francesca Pilu, Vice President – Analyst, Structured Finance Group

10.15Keynote Spotlights Conversation

Roberto Tasca, Councilor for Budget and State Property, City of Milan

Led by Mauro Crisafulli, Associate Managing Director, Country Manager

10.45Networking Break

11.15Rating & Default Trends Presentation

The only way is up  

Pier Paolo Vaschetti, Vice President – Senior Credit Officer, Credit Strategy and Standards

11.35Banking Presentation    

Banking outlook and insight into key regional players  

Fabio Ianno, Vice President, Senior Credit Officer, Financial Institutions Group

11.50Corporate Presentation    

Corporate outlook and insight into key regional players  

Donatella Maso, Vice President – Senior Analyst, Corporate Finance Group

12.05Panel Discussion 

How will ESG and technology risks evolve over the next decade

Led by Massimo Visconti, Vice President – Senior Credit Officer/Manager, Sub-Sovereign Group

Lorenzo Re, Vice President – Senior Analyst, Corporate Finance Group

Raffaella Altamura, Vice President - Senior Credit Officer, EMEA Infrastructure Finance

Antonello Aquino, Associate Managing Director, Financial Institutions Group

12.35Closing Remarks

Mauro Crisafulli, Associate Managing Director, Country Manager

Alessio Tavecchio remarks on Corporate Social Responsibility

12.45Close of the Conference

Keynote Speaker

Roberto Tasca
Councilor for Budget and Property

Guest Speaker

City of Milan

Guest Speaker

City of Milan

Councilor for Budget and Property
Roberto Tasca

Moody's Speakers

Mauro Crisafulli
Associate Managing Director -
Country Manager

Moody's Investors Service

Moody's Investors Service

Country Manager
Associate Managing Director -
Mauro Crisafulli
Kathrin Muehlbronner
Senior Vice President -
Sovereign Risk Group

Moody's Investors Service

Moody's Investors Service

Sovereign Risk Group
Senior Vice President -
Kathrin Muehlbronner
Fabio Ianno
Vice President - Senior Credit Officer,
Financial Institutions Group

Moody's Investors Service

Moody's Investors Service

Financial Institutions Group
Vice President - Senior Credit Officer,
Fabio Ianno
Raffaella Altamura
Vice President - Senior Credit Officer,
EMEA Infrastructure Finance

Moody's Investors Service

Moody's Investors Service

EMEA Infrastructure Finance
Vice President - Senior Credit Officer,
Raffaella Altamura
Antonello Aquino
Associate Managing Director -
Financial Institutions Group

Moody's Investors Service

Moody's Investors Service

Financial Institutions Group
Associate Managing Director -
Antonello Aquino
Francesca Pilu
Vice President – Analyst,
Structured Finance Group

Moody's Investors Service

Moody's Investors Service

Structured Finance Group
Vice President – Analyst,
Francesca Pilu
Pier Paolo Vaschetti
Vice President – Senior Credit Officer,
Credit Strategy and Standards

Moody's Investors Service

Moody's Investors Service

Credit Strategy and Standards
Vice President – Senior Credit Officer,
Pier Paolo Vaschetti
Donatella Maso
Vice President – Senior Analyst,
Corporate Finance Group

Moody's Investors Service

Moody's Investors Service

Corporate Finance Group
Vice President – Senior Analyst,
Donatella Maso
Massimo Visconti
Vice President - Senior Credit Officer/Manager
Sub-Sovereign Group

Moody's Investors Service

Moody's Investors Service

Sub-Sovereign Group
Vice President - Senior Credit Officer/Manager
Massimo Visconti
Alessio Tavecchio
President of the Fondazione Alessio Tavecchio

Guest Speaker

Guest Speaker

President of the Fondazione Alessio Tavecchio
Alessio Tavecchio

If you have any questions regarding the Credit Trends, please contact Veronica Corsiero.