Moody's downgrades China's rating to A1 from Aa3 and changes outlook to stable from negative

May 24, 2017 00:22 am UTC| Research & Analysis

Moodys Investors Service has today downgraded Chinas long-term local currency and foreign currency issuer ratings to A1 from Aa3 and changed the outlook to stable from negative. The downgrade reflects Moodys expectation...

Fitch: Saudi 1Q Deficit Narrows, Some Allowance Cuts Reversed

May 23, 2017 11:56 am UTC| Research & Analysis

Saudi Arabias sharply narrower first quarter deficit highlights the positive fiscal impact of higher oil prices. But the partial reversal of a cut in public sector allowances shows reforms are not yet well entrenched,...

Moody's: Weak structures of cov-lite loans, now the majority of US leveraged loan market, suggest lower-than-average recoveries in the next downturn

May 23, 2017 11:20 am UTC| Research & Analysis

Poorly structured covenant-lite loans today make up a much larger proportion of the US leveraged loan market than they did before the credit crisis, and this does not bode well for investor recoveries during the next...

Fitch: Recovery in Belarus Bank Lending is Still Some Way Off 

May 23, 2017 10:34 am UTC| Research & Analysis

A return to growth in Belarusian bank lending is still some way off, Fitch Ratings said at its annual conference on Belarus in Minsk today. We expect new lending (excluding exchange-rate effects) to be at best flat in...

Moody's: Low interest rates partly offset risks from UK consumers' high over-indebtedness levels

May 23, 2017 07:37 am UTC| Research & Analysis

Low interest rates mean that despite recent looser underwriting of unsecured debt, consumers in the United Kingdom (UK) will continue to be able to service their high debt levels in a base case scenario, according to...

Announcement: Moody's: Namibia's credit profile balances medium-term growth prospects against rising public debt

May 23, 2017 05:39 am UTC| Research & Analysis

Namibias Baa3 rating with a negative outlook reflects the countrys solid medium-term growth prospects and institutional strength, set against credit challenges including its rising public debt and heightened external...

FxWirePro: Short EM vol risk in CNH options – Calendar option structures

May 19, 2017 13:15 pm UTC| Research & Analysis Insights & Views

A steeply upward sloping CNH vol curve in the 3M-1Y segment motivates forward vol selling at a substantial premium to spot ATM vol. The steepness of the vol curve is substantial for the level of base vols and worth milking...