In this episode, Gordon Kerr, Head of European Research is asked questions by Luigi Griffo from KBRA’s European Investor Relations about the results of a recent survey. Investors in the European Securitisation market were asked their views for issuance and performance in the short to medium term. This is the second KBRA survey in 2022, providing a dynamic picture as views change. The first survey in June 2022 painted a concerning picture as many challenges lay ahead. The environment still presents a difficult future, but the context has changed, as have investors views. Take a listen to some of the interesting views presented. A copy of the full report for December 2022, as well as the June 2022 survey can be found on kbra.com.

In this episode, Gordon Kerr, Head of European Research speaks with Kali Sirugudi from the RMBS ratings team about the impact of the current rising interest rate environment on commercial real estate in Europe. We engage in a discussion about how the Spanish housing market has adapted from its position pre-global financial crisis and is better prepared for the challenges ahead. In Spain, the housing market suffered dramatically in the wake of the global financial crisis with house prices collapsing and delinquencies and defaults surging. In 2023 the market will be challenged again, but KBRA argues that it is in a much better position than it was in 2007. Further reading on the topic can be found on kbra.com.

In this episode, Gordon Kerr, Head of European Research speaks with Stephen Hughes and Stacy Gross from the CMBS ratings team about the impact of the current rising interest rate environment on commercial real estate in Europe. We engage in a discussion about the potential impact of rates on commercial real estate loans, and commercial mortgage backed securities. Rate increases can have an impact on valuations and refinancings, impacting loan covenants and structures. Further reading on the topic can be found on kbra.com.

In this episode, Gordon Kerr, Head of European Research speaks with Karim Nassif, European Project Finance & Infrastructure, and Ken Egan, Sovereigns about the growing cost of energy in Europe and it’s impact. We engage in a discussion about the changing dynamics of the energy market in Europe, government actions and the consequences of the changing environment as Europe transitions away from a reliance upon Russian gas on industries, households, and the public sector. Further reading on the topic can be found on kbra.com.

In this episode, Gordon Kerr, Head of European Research, speaks with Kali Sirigudi, Managing Director, RMBS, about the challenges ahead for UK consumers. The two KBRA analysts discuss the potential impact of current developments impacting the average UK consumer and borrower. Further reading on the topic can be found on kbra.com.

In this episode, Gordon Kerr, Head of European Research speaks with Karim Nassif, Director, Project Finance & Infrastructure and Ken Egan, Director, Sovereigns about the recent developments in Europe with regards to Russian gas. In this podcast we engage in a discussion about the potential impact of Russian gas supply changes as Europe adjusts its reliance and how it may adjust in the ongoing energy transition. Further reading on the topic can be found on kbra.com.

In this episode, Gordon Kerr, Head of European Research speaks with Karim Nassif, Director, Project Finance & Infrastructure about the development of battery storage in Europe and the funding of its progress. In this podcast we engage in a discussion about the role of battery storage in the great energy transition as Europe adjusts to the need to expand the use of renewable technologies. Further reading on the topic and other renewable and project finance commentary can be found on kbra.com.

In this episode, Gordon Kerr, Head of European Research speaks with Yee Cent Wong, Co-Head of Europe, Kali Sirugudi, Managing Director, European RMBS, Kilian Walsh, Managing Director, European ABS, Stephen Hughes, Director, European CMBS, and Gabriele Gramazio, Director, European Structured Credit about the recent annual Global ABS conference for the securitization market. With market concerns on the horizon, it wasn’t all rosy on the beach in Barcelona. In this podcast we discuss insights that KBRA analysts have gleaned from their discussions with market participants. Further reading on the event can be found in the Daily Recaps in full on kbra.com.

In this episode, Gordon Kerr, Head of European Research speaks with Asia Drobnik, Senior Director, Financial Institutions and Kali Sirugudi, Managing Director, European RMBS about the UK mortgage and housing markets and how well the building societies are prepared for the challenges ahead. The discussion focuses on the findings of the recently published report – UK Building Societies: Prepared for the Challenges Ahead, available to read in full on kbra.com.

In the second episode of a two-part Conversations in European Credit, Gordon Kerr, Head of European Research speaks with several members of the KBRA team on the current environment:

Gabriele Gramazio, Director, European CLOs

Kali Sirugudi, Managing Director, European RMBS

Killian Walsh, Senior Director, European ABS

Stephen Hughes, Director, European CMBS

In the podcast, they will discuss the impact of conflict, inflation and interest rates and the resulting changes to the direction of European markets.