Credit Currents - Moody's Ratings

Moody’s analysts discuss recent developments in the US and European banking systems, the implications for monetary policy and potential spillovers to emerging markets across the globe.   Speakers: Donald Robertson, AMD – Financial Institutions, Moody’s Investors Service; Nick Hill, MD – Financial Institutions, Moody’s Investors Service; Eugene Tarzimanov, VP – Senior Credit Officer, Moody’s Invest...

In this episode of Moody’s Talks – Emerging Markets Decoded, Nitish Bhojnagarwala of the Financial Institutions team and special guest Sohail Ali of DLA Piper join host Scott Phillips to discuss the outlook for Islamic finance across emerging markets. Plus, they dive into the intersection of ESG and Islamic finance, and the risks associated with “green” sukuk issuance.  Related research: Islamic f...

In this episode of Moody’s Talks – Emerging Markets Decoded, Ighosime Oyofo and Mik Kabeya of the Financial Institutions team and Lucie Villa of the Sovereign team join host Scott Phillips to discuss the credit implications of Nigeria’s presidential elections, with a focus on the banking system and the sovereign.  Related research Government of Nigeria: Election disputes will delay policies to add...

In this episode of Moody's Talks – Emerging Markets Decoded, Scott Phillips of the Global Emerging Markets team joins host Shirin Mohammadi to discuss a recent turn of events for emerging market credit conditions, including some easing in financial conditions, with inflation, yields and spreads all lower than at the end of 2022, despite continued volatility. They explore what recent events mean fo...

In this episode of Moody’s Talks – Emerging Markets Decoded, Jaime Reusche of the Sovereign team joins host Ariane Ortiz-Bollin to discuss the credit implications of political unrest in Peru, how it compares to recent events in Brazil and credit distress in Argentina. Plus, Valeria Azconegui of Moody’s Local shares insights from the ground. Related research: Government of Argentina: External marke...

In this episode of Moody’s Talks – Emerging Markets Decoded, Christian Fang and Alex Perjessy of the Sovereign team join host Shirin Mohammadi to discuss the outlook for sovereigns across the Middle East and North Africa. Plus, they explore how recent developments in Iran could affect the rest of the region. Related research : 2023 outlook negative as inflation, high interest rates broadly raise c...

In this episode of Moody’s Talks – Emerging Markets Decoded, Gene Fang of the Sovereign team joins host Scott Phillips to discuss the outlook for credit conditions in China as it lifts Covid restrictions and reopens its economy, with a special focus on regional and local governments, the property sector, as well as potential implications for other emerging markets.  Related research: 2023 outlook...

In this episode of Moody’s Talks – Emerging Markets Decoded, David Rogovic of the Sovereign team and Mik Kabeya of the Financial Institutions team join host Scott Phillips to discuss credit dynamics in Africa amid the US-Africa Leaders Summit in Washington DC. Plus, Matt Pirnie, Head of Ratings at GCR Ratings joins as a special guest to discuss the biggest risks and potential bright spots facing c...

In this episode of Moody’s Talks – Emerging Markets Decoded, Deborah Tan of the Credit Strategy & Research team joins host Shirin Mohammadi to discuss what a sustained economic growth slowdown in China implies for the rest of the world, particularly the Asia-Pacific region and lower-income countries that rely on Chinese investment flows.    © 2026 Moody’s Corporation and/or its licensors and...

In this episode of Moody’s Talks – Emerging Markets Decoded, Ariane Ortiz-Bollin of the Global Emerging Markets team joins host Scott Phillips to discuss the 2023 outlook for emerging market credit conditions, with a focus on governments, companies and banks. Related research: 2023 Outlook - Negative credit conditions leave weaker debt issuers exposed   © 2026 Moody’s Corporation and/or its l...

In this episode of Moody’s Talks – Emerging Markets Decoded, Ana Rayes of the ESG team joins host Shirin Mohammadi to discuss the potential social ramifications of climate action, and explore the relative readiness of emerging market sovereigns for a socially just carbon transition.  Related research: Sovereigns' readiness for a “just transition” varies, as does associated credit impact Government...

In this episode of Moody’s Talks – Emerging Markets Decoded, Samar Maziad of the Sovereign team joins host Ariane Ortiz-Bollin to discuss the credit implications of Brazil’s recent presidential elections for the sovereign, banks and companies.   © 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete le...

In this episode of Moody’s Talks – Emerging Markets Decoded, Thaddeus Best of the Emerging Markets team joins host Scott Phillips to discuss how tight financial conditions and capital outflows from emerging markets are affecting lower-rated issuers’ ability to refinance maturing international bonds.   © 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to w...

In this episode of Moody’s Talks – Emerging Markets Decoded, Christian Fang of the Sovereign team joins host Shirin Mohammadi to discuss the fiscal and social implications of a sustained period of high inflation and interest rates globally for non-investment-grade emerging market sovereigns. Related content on Moodys.com (some content only available to registered users or subscribers):  Non-Invest...

In this episode of Moody’s Talks – Emerging Markets Decoded, Olivier Chemla and Petter Bryman of the Sovereign team join host Ariane Ortiz-Bollin to discuss which Central and Eastern European countries are most at risk of stagflation and how such a scenario would impact sovereign credit profiles. Related content on Moodys.com (some content only available to registered users or subscribers):  Credi...

In this episode of Moody’s Talks – Emerging Markets Decoded, Madhavi Bokil of the Credit Strategy and Research team joins host Shirin Mohammadi to discuss the latest update to Moody’s global macroeconomic outlook, with a focus on G20 emerging markets. Plus, Kathrin Muehlbronner and Gabriel Torres of the Sovereign team do a deep dive into Turkiye and Argentina – two of the largest emerging markets...

In this episode of Moody’s Talks - Emerging Markets Decoded, Thaddeus Best of the Global Emerging Markets team and Anushka Shah of the Sovereign team join host Ariane Ortiz-Bollin to discuss the resilience of most emerging markets to tightening financial conditions, as well as the implications for reform prospects in lower-income countries. Related content on Moodys.com (some content only availabl...

In this episode of Emerging Markets Decoded, Ada Li and Roxana Munoz of the Infrastructure and Project Finance team join host Thaddeus Best to discuss how climate change is undermining green and conventional power generation. Related content on Moodys.com (some content only available to registered users or subscribers):  APAC power utilities’ credit quality under pressure from rising physical clim...

In this episode of Emerging Markets Decoded, Leroy Terrelonge of the Cyber Risk team and Gabriel Torres of the Sovereign team join host Shirin Mohammadi to discuss rising cyber risks for emerging markets and recent attacks on Costa Rica’s government. Related content on Moodys.com (some content only available to registered users or subscribers):  Government of Costa Rica: FAQ on the sovereign credi...

In this episode of Emerging Markets Decoded, Renzo Merino of the Sovereign team and Nymia Almeida of the Corporates team join host Ariane Ortiz-Bollin to discuss the recent rating downgrades of the Mexican sovereign and state-owned oil company.     © 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete...

In this episode of Emerging Markets Decoded, Martin Petch of the Sovereign team and Franco Leung of the Corporates team join host Thaddeus Best to discuss the implications of China’s property sector stress and economic slowdown for global growth.   © 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete...

Analysts Renzo Merino and Nymia Almeida join host Ariane Ortiz-Bollin to discuss the policy proposals of the candidates vying to be Colombia’s next president and how rising social risks may lead to policy changes with important credit implications. Related content on Moodys.com   (some content only available to registered users or subscribers):  https://www.moodys.com/researchdocumentcontentpage.a...

In this episode of Moody’s Talks – Emerging Markets Decoded, Ariane Ortiz-Bollin of the Global Emerging Markets team joins host Thaddeus Best to discuss key takeaways from Moody’s recent Global Emerging Markets Summit. Plus, Rachel Chua of the Corporates team reveals which emerging market companies are most exposed to spillovers from the Russia-Ukraine military conflict, and which stand to benefit...

In this episode of Moody’s Talks – Emerging Markets Decoded, Aurelien Mali and Kathrin Muehlbronner of the Sovereign team join host Shirin Mohammadi to discuss the sociopolitical ramifications of the Russia-Ukraine crisis for the Middle East and Africa by drawing lessons from a similar global food and energy price shock in 2008. Plus, they discuss how the conflict is exacerbating an already precar...

In this episode of Moody’s Talks – Emerging Markets Decoded, Christian de Guzman and Elisa Parisi-Capone from the Sovereign team join host Thaddeus Best to discuss how Russia’s military conflict with Ukraine is affecting Commonwealth of Independent States (CIS) sovereigns, as well as what stress tests on borrowing costs, exchange rates and capital flows tell us about the sovereigns most exposed to...