Our view of credit fundamentals – a mix of financial and business conditions – has turned increasingly negative across sectors. We examine why industries like airlines and retail are under strain, while others like aerospace and defense are staying afloat.

Hosts: Tania Hall, Senior Research Writer, Moody’s Ratings; Tom Coghlan, AVP-Research Writer, Moody’s Ratings 

Guests: Sven Reinke, Managing Director, Corporate Finance Group, Moody’s Ratings; Frederic Duranson, Vice President - Senior Analyst, Corporate Finance Group, Moody’s Ratings

Related research:

• Aerospace & Defense – Global: Outlook remains positive on sustained demand despite tariff, supply chain effects, 3 June 2025
• Airline – Global: Outlook negative as growth in demand for travel stalls amid rising economic concerns, 30 May 2025
• Retail & Apparel – Global: Outlook turns negative as companies and consumers contend with tariff uncertainties, 14 April 2025