Sinopse
S&P Global Ratings Podcast. Tune in for S&P Global Ratings analysts' opinions on trends and events that affect the global markets and your investment decisions. Download the S&P Global Ratings’ Podcast to any portable audio device or your desktop. Make the most of your time and stay on top of important business developments around the world. Listen in! Our CreditMatters videos and podcasts provide an easy and informative way to keep up with S&P Global Rating’ global perspective on important credit market developments anytime, anywhere.
Episódios
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Take Notes: Covered Bonds Could Ease The Pain In European Commercial Real Estate
13/07/2023 Duração: 08minWe're joined by credit analysts Casper Andersen to discuss how covered bonds could ease the pain in European commercial real estate (CRE), which has been struggling with inflation and rising interest rates. First, we go into the price trends of different CRE segments. We touch on covered bond rating performance. Finally, we talk about the potential for covered bond funding, which varies significantly depending on the covered bond issuer and jurisdiction, and green covered bonds, which may offer a potential source for further CRE funding. Related article: Covered Bonds Could Ease The Pain In European Commercial Real Estate , May 16, 2023
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Take Notes - European CMBS In A Rising Rate Environment
16/03/2023 Duração: 12minWe're joined by Mathias Herzog to discuss how the risk for the commercial real estate (CRE) loans we monitor in European CMBS has shifted to refinancing risk from term risk due to rising interest rates. We touch on default and refinancing risk on some of the loans in our surveillance book that are about to mature, as well as what would happen if a loan defaulted. We also break down the performance outlook of European CMBS deals by sectors. Related Articles: European CMBS Faces Crunch Time With Loan Maturities Amid Higher Interest Rates
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Take Notes - Insights Into The Danish And German Covered Bond Markets
22/12/2022 Duração: 10minExpanding on our covered bond market coverage, Casper Andersen joins us to provide some insights into the Danish and German markets, which are the largest and second-largest in Europe, respectively. We give an overview of each market's adopted legal frameworks, key characteristics, and collateral securing their covered pools. We also discuss how inflation and mortgage markets affect these covered bond markets. Related Articles: Danish Covered Bond Market Insights 2022 German Covered Bond Market Insights 2022
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Beyond the Buzz - Understanding Scope 2 Emissions
15/09/2022 Duração: 31minIn this episode, host Corrine Bendersky is joined by S&P Global Ratings analyst and lead sustainable finance expert Beth Burks. They discuss Beth’s latest commentary, “Purchased Energy Emissions In ESG Evaluations And Sustainable Financing Opinions.” This commentary clarifies the approach that S&P Global Ratings Sustainable Finance Group takes when evaluating scope 2 emissions. The two discuss challenges in greenhouse gas (GHG) accounting and the group’s views on the effectiveness of various scope 2 mitigation strategies. Related Articles: Purchased Energy Emissions In ESG Evaluations And Sustainable Financing Opinions
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Take Notes: The Health of U.S. Consumers
10/08/2022 Duração: 09minIn this week’s episode of Take Notes, hosts Tom Schopflocher and Jim Manzi discuss their recently published chartbook: U.S. Structured Finance Snapshot: The Health Of U.S. Consumers. Topics include U.S. macroeconomic conditions, consumer ABS, housing/RMBS, and non-agency multifamily CMBS, and how the trends in asset classes reflect the health of U.S. consumers. View Full Transcript Related Article: U.S. Structured Finance Snapshot: The Health Of U.S. Consumers
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The Upgrade Episode 23: Corporate Borrowers Brace For Slow-Growth Recession
09/08/2022 Duração: 08minCredit quality has proven resilient as some credit measures return to (or in some sectors are better than) pre-pandemic levels. Nevertheless, risks are weighted to the downside as profit growth momentum and macroeconomic activity slow. In this episode of The Upgrade podcast Hanna Zhang and Minesh Patel discuss key highlights from our recently published article titled “ U.S. Leveraged Finance Q2 2022 Update: Corporate Borrowers Brace For Slow-Growth Recession ”.
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Cracking & Fracking Episode 18
03/08/2022 Duração: 14minIn this edition of Cracking & Fracking, Tom Watters interviews Mike Grande, Sector Lead for U.S. midstream and refining. The topics include the outlook for both sectors as well as discussions on the BB+ crossover candidates and the likelihood for upgrades to investment grade.
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Take Notes: The Harmonization Of EU Covered Bonds
03/08/2022 Duração: 09minFollowing the implementation of the EU Covered Bond Directive, analysts Casper Andersen and Ana Galdo join us this week to discuss the journey European covered bonds have been on to harmonize. We go over some key elements of the legislation, recap the harmonization timeline so far, and discuss what the directive means for covered bonds going forward. View Full Transcript Related Article(s): European Covered Bonds Reach Harmonization Milestone As The Journey Continues , July 12, 2022 Spanish Covered Bonds: Harmonization Achieved Through Royal Decree Law , July 13, 2022
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Beyond the Buzz - Storm Clouds or Clear Skies Ahead
03/08/2022 Duração: 19minIn this episode, host Mike Ferguson is joined by S&P Global Ratings analyst Nora Wittstruck, Senior Director and ESG Sector Leader of U.S. Public Finance. They discuss Nora’s latest commentary on the impact on U.S. local government credit ratings from property & casualty insurance premiums, which are skyrocketing due to physical climate risks. Nora reveals that, in the long-term, insurance costs could drive up the cost of home ownership, leading to economic stagnation or even a decline, and could squeeze certain demographics in affected communities. This commentary is the second of a two-part series exploring the potential credit effects of environmental physical risks. Related Articles: Storm Clouds Or Clear Skies Ahead: How Rising Insurance Premiums From Environmental Physical Risks Could Affect U.S. Local Government Credit Ratings ; Storm Clouds Or Clear Skies Ahead: How Rising Insurance Premiums From Environmental Physical Risks Could Affect U.S. RMBS And CMBS
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Cracking & Fracking Episode 17
01/08/2022 Duração: 19minIn this episode of Cracking & Fracking, we delve into some of the frequently asked questions posed by investors from a recent investor road show. Topics discussed are the general macro trends for oil and gas as well as certain individual credits in the E&P space, particularly with respect to cross over candidates.
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Cracking & Fracking Episode 16
26/07/2022 Duração: 19minThis episode of Cracking & Fracking summarizes the key topics raised by investors from a recent road show by analysts from S&P Ratings Chemical’s team. The topics center around the outlooks for some Chemical subsectors as well as cross over credits.
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Take Notes: European CMBS Performance In The Face Of Rising Real Estate Values
07/07/2022 Duração: 13minWith the European commercial real estate market facing asset price inflation risks, analyst Mathias Herzog joins us this week to discuss the region's CMBS performance. We discuss key European market trends and how they impact our ratings, noting that generally, ratings will be lower on new transactions with the same leverage as measured by the underlying assets' market value. For existing ratings, there will be no change from these developments alone. We also touch on our outlooks for certain European CMBS subsectors. Related Article: Asset Price Risks: How Safe Is European CMBS Performance In The Face Of Rising Real Estate Values?
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Leveraged Finance & CLOs Uncovered Podcast: Changing CLO Structures And Documentations
06/07/2022 Duração: 09minSeries 4, Episode 8: Shifting markets has resulted in CLO structures and documents being reassessed. Listen in to this special episode where Hina & Sandeep are joined by Abhijit Pawar, Senior Analyst from our Structured Finance Team.
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Take Notes: How The Australian RMBS Sector’s Resilience To Monetary Tightening Will Be Tested
16/06/2022 Duração: 22minCredit analyst Erin Kitson joins us this week to discuss the Australian RMBS sector's likely resilience to rising interest rates in the country due to inflationary pressures. We do deep dives on a scenario analysis we performed to explore borrower sensitivity to rising interest rates, the fixed-rate phenomenon in the sector, property prices, unemployment, geographic diversity, and ratings performance. Related Article: Monetary Tightening To Test Australian RMBS
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Beyond the Buzz - Weather Warning Countries’ Vulnerability to Physical Climate Risks
10/06/2022 Duração: 24minIn this episode, host Corinne Bendersky is joined by S&P Global Ratings analysts Dr. Paul Munday, Global Adaptation and Resilience Specialist, and Marion Amiot, Head of Climate Economics. They break-down a commentary they published recently that explores the vulnerability of 135 countries to physical climate change over the next 30 years. They unveil the stark discrepancies between the scale and permanence of economic impacts, by region and country. As the frequency and severity of events such as drought, floods, and wildfires increases, the financial and social costs to economies and people will be felt in different ways. Related Research: Weather Warning: Assessing Countries’ Vulnerability To Economic Losses From Physical Climate Risks
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Take Notes: U.S. And EMEA RMBS Housing Update Prices, Affordability, And Over-Undervaluation Trends
01/06/2022 Duração: 09minTogether with credit analyst Casper Anderson, we give an update on U.S. and EMEA housing price trends, affordability, over/undervaluation trends, and outlooks for both regions. View Full Transcript Related Articles: Asset Price Risks: Inflated Property Values Mean Higher Loss Assumptions In European RMBS And Covered Bonds, March 21, 2021 Housing Overvaluation Trend Continues: What It Means For U.S. RMBS, April 5, 2021
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The Upgrade Episode 22: Envision Healthcare Corp.’s Debt Exchange
27/05/2022 Duração: 18minIn this episode of The Upgrade podcast, Alessio Di Francesco, Steve Wilkinson, Daniel Hu, and Minesh Patel discuss Envision Healthcare Corp.'s recent distressed exchange, ongoing operational challenges, and rating drivers. Our latest research titled "Envision Healthcare Corp. Upgraded To 'CCC' From 'SD' And Placed On CreditWatch Negative Following Distressed Exchange" can be found here. For more Leveraged Finance and CLOs Insights visit Leveraged Finance & CLOs Essentials
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Take Notes: Private Equity Collateral Fund Obligations In 2022
12/05/2022 Duração: 10minWe're joined by Chris Plumb and Jie Liang to discuss Private Equity CFOs, including the recent Astrea 7 transaction. Disruptions from the COVID-19 pandemic led to temporary performance fluctuations in the outstanding Astrea transactions we rate. Rising rates and market volatility may affect returns on the underlying private equity assets in the near term. Related Article- Presale: Astrea 7 Pte. Ltd.
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Cracking & Fracking Episode 15
10/05/2022 Duração: 09minIn this episode of Cracking & Fracking, Tom gives an update on the oil and gas markets, the impact of the Russian/Ukraine conflict and what it means for oil prices.