Credit Currents - Moody's Ratings

Original publish date: June 10, 2020

Inside this episode:

• Michael Taylor of the Credit Strategy & Research team discusses the prospects for economic recovery and employment stability in China as the country tries to revitalize growth following the coronavirus.
• Kelvin Dalrymple from the Sovereign team talks about the twin shocks for East Africa of the coronavirus and a locust infestation that threatens the region’s crops.​

Related content:

1. Policy sessions indicate economic recovery, employment are government's top priorities
2. World Bank's emergency funding for East Africa points to risks from intensifying locust swarms
3. Moody's Emerging Markets Focus

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Original publish date: May 27, 2020

Inside this episode:

• Lucie Villa of the Sovereign team discusses a debt relief initiative for low-income countries grappling with liquidity pressures. 
• Daniela Jayesuria of the Structured Finance team offers insights on coronavirus-related debt moratoriums for individual and corporate borrowers in Latin America, one of the biggest securitization markets in emerging markets.​​​​​

Related content:

1. Rating Action: Moody's places Pakistan's B3 rating under review for downgrade
2. Government of Ethiopia – B2 RUR; Update following downgrade and initiation of review for further downgrade
3. Policy support will mitigate economic damage but will not avert recessions
4. Moody's Emerging Markets Focus

© 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video.

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Original publish date: May 13, 2020

Inside this episode:

• Atsi Sheth of the Credit Strategy and Research team shares insights on how the coronavirus will likely push the global economy into recession this year, and why the downturn poses particular risks for emerging markets. 
• Sean Marion of the Financial Institutions team discusses why credit risks are rising for South African banks.​​​​​

Related content:

1. Coronavirus and the Economy: Alternative Data Monitor
2. Global Macro Outlook 2020-21 (April 2020 Update): Global recession is deepening rapidly as restrictions exact high economic cost
3. Banking System Outlook Update - South Africa: Credit profiles will weaken as the coronavirus pushes economy into recession
4. Moody's Emerging Markets Focus

© 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video.

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Original publish date: April 29, 2020

Inside this episode:

• Ariane Ortiz-Bollin of the Sovereign team and Nymia Almeida of the Corporates team discuss the factors behind our recent rating downgrades of the Mexican sovereign and domestic energy giant PEMEX. 
• Insights from Franco Leung of the Corporates team on the weaker operating environment for China’s property sector, one of the most active segments in emerging Asia debt markets.​​​​

Related content:

1. Government of Mexico – Baa1 negative; update following rating downgrade to Baa1, outlook negative
2. Rating Action: Moody's downgrades PEMEX's ratings to Ba2; negative outlook
3. Outlook turns negative; but most rated developers are stronger than broad sector
4. Moody's Emerging Markets Focus

© 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video.

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Original publish date: April 15, 2020

Inside this episode: 

• India’s sweeping lockdown to combat the coronavirus outbreak is the largest restriction of movement the world has ever seen. In this episode, Moody’s analysts William Foster and Alka Anbarasu talk through the credit implications of containment efforts for the country’s government and banks. 
• Analyst Gabriel Torres also joins to discuss Argentina’s economic outlook and prospects for another debt restructuring.

Related content:

1. Government of India – Baa2 negative; update following forecast change
2. Government of Argentina – Ca negative; update following downgrade to Ca, outlook negative
3. Outlook changed to negative as coronavirus outbreak and bank default add to risks
4. Moody's Emerging Markets Focus

© 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video.

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Original publish date: April 1, 2020

Inside this episode:

• Marie Diron discusses what’s ahead for emerging market sovereigns as the coronavirus outbreak spreads and demand for oil drops. 
• Matthew Kuchtyak discusses our outlook for sustainable finance and ESG investing in emerging markets after a landmark year in 2019​​​​​.

Related content:

1. Coronavirus and oil price shock magnify weaknesses highlighted in negative 2020 outlook
2. Deepening ESG focus in emerging markets will spur growth in sustainable debt
3. Moody's Emerging Markets Focus

© 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video.

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