S&P Global Ratings continues to assess the economic and credit effects of the coronavirus pandemic around the world. Click below for our research and insights across regions and industries.
Coronavirus Impact – Key Takeaways From Our Articles
S&P Global Ratings is launching a series of weekly webcasts. Every Friday, we will provide the market with regular updates on our view of how the current unprecedented circumstances are affecting credit risk and ratings across asset classes. We will define the agenda and speakers each week based on the events, most notable rating actions, and the questions we receive from market participants. To register for the upcoming webinars, please click the link: “Upcoming Webinars”
‘BBB’ Pulse – U.S. And EMEA Fallen Angels Are Set To Rise As The Economy Grinds To A Halt
The ongoing COVID-19 pandemic is forcing most countries to adopt strict social distancing measures (both formally and informally) in an effort to contain the spread of the disease. As a result, global demand for many goods and services has plummeted, pushing the global economy into a recession (see “The Escalating Coronavirus Shock Is Pushing 2020 Global Growth Toward Zero,” March 30, 2020). The oil and gas sector is also facing its own unique shock to supply following the failure of Saudi Arabia and Russia to agree on production and export levels.
Global Credit Conditions – Triple Trouble: Virus, Oil, Volatility
Containment measures to stem the COVID-19 pandemic have pushed the world’s largest economies into near-hibernation. While China shows early signs of re-emerging from this, Europe and the U.S. aren’t yet past the viral peak. We have also yet to see the full impact on vulnerable emerging markets. Combined with historical collapse in oil prices, and record volatility in the markets, this put significant pressure on creditworthiness around the world. Industries most exposed to the dramatic drop in global demand and much tighter financing conditions have experienced the most downgrades so far.