Emerging Markets Summit
Wednesday, May 20, 2020
May
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Overview

What are market attitudes towards leverage as the cycle turns? How much room for manoeuvre is there left? Join the annual event to examine European high yield market conditions and discuss what may magnify risks in 2020 and beyond.

Hear from leading analysts and experienced market figures about the latest trends and shifts in the credit landscape. Look deeper into the impact of deteriorating standards, the increasing role of ESG, and cross sector performance.

Track the trends | How today’s market dynamics translate into high yield credit

Explore the outlook | What will be the default rate drivers in 2020?

Focus on sectors | For more granular insight join the interactive breakout sessions

Engage with the market | Network with 200+ investors, issuers and intermediaries from across Europe

08.30Registration &  Coffee

09.00 Opening Remarks

Chairperson: Sandra Veseli,  Managing Director, Corporate Finance

09.10 Keynote Spotlight  Conversation

Guest speaker to be announced

Led by Nick Hill, Managing Director, Banking  

09.45Leveraged Finance Plenary  Session

Beyond  the Leverage Multiple

Richard  Etheridge, Associate Managing Director, Corporate Finance

 

Followed  by a Panel Discussion

  • In a lower for longer interest  rate environment, does leverage matter anymore?
  • EBITDA add-backs: Now pervasive  in most deals, but larger and harder to achieve?
  • Downgrades on the rise: To what  extent is deal stress rising? How concerned should investors be?
  • ESG: Increasing in importance  but still mostly a sideshow for HY investors?

Led by Peter Firth, Associate Managing Director, Corporate Finance

Guest Speakers to be announced  

10.45Networking &  Coffee Break

11.15CLO Presentation

Dark  Clouds on the Horizon

  • Issuance and  performance updates
  • Negative outlooks and  downgrades: Impact on WARF and trading flexibility
  • How does a tighter arbitrage  impact CLO structures?
  • How big a risk is ESG for  CLOs?

Co presented by George Zittis, Vice President –  Senior Credit Officer, Structured Finance

James Morton, Vice President – Senior Analyst,  Structured Finance

11.40 Breakout Sessions

08.00 Moody's Analytics workshop (45 min)

Discover how Moody's CreditView can facilitate your fundamental credit analysis. You will learn how you can quickly access core credit information, and how to deep-dive into a full suite of leveraged finance research, data and services, to help you get it done.

Presented by Moody’s Analytics

08.30Registration &  Coffee

09.00 Opening Remarks

Chairperson: Sandra Veseli,  Managing Director, Corporate Finance

09.10 Keynote Spotlight  Conversation

Guest speaker to be announced

Led by Nick Hill, Managing Director, Banking  

09.45Leveraged Finance Plenary  Session

Beyond  the Leverage Multiple

Richard  Etheridge, Associate Managing Director, Corporate Finance

 

Followed  by a Panel Discussion

Led by Peter Firth, Associate Managing Director, Corporate Finance

Guest Speakers to be announced  

10.45Networking &  Coffee Break

11.15CLO Presentation

Dark  Clouds on the Horizon

Co presented by George Zittis, Vice President –  Senior Credit Officer, Structured Finance

James Morton, Vice President – Senior Analyst,  Structured Finance

11.40Sector Focused Breakout Sessions

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If you require any further information about the event please contact:

Sara Soriano, Assistant Director - Events & Outreach, sara.soriano@moodys.com

Find out more about the new world of credit here: em.moodys.io