Fixed Interests

The US government recently announced new restrictions on China’s access to US semiconductor technology - join Fitch analysts Carla Taylor, Jason Pompeii and Chaim Kurland for a discussion on what to expect from the new regulations going into 2023.

Shelly Shetty, Managing Director, Sovereigns, and Richard Francis, Senior Director, Sovereigns, discuss the potential economic implications of mid-term elections in the U.S.

In the latest episode of Fixed Interests, Thomas Rookmaaker, Head of APAC Sovereign Ratings, and Toby Iles, Head of MEA Sovereign Ratings, discuss the impact of high crude oil revenues on the fiscal policies of GCC sovereigns.

Paul Gamble and Federico Barriga Salazar from the Emerging Europe sovereign team and Michele Napolitano, head of Western Europe sovereign ratings discuss the rating implications of the shutdown in Russian gas supplies to the EU.

Despite Argentina's deal with the IMF earlier this year, the country's macroeconomic vulnerabilities are mounting, and it remains unclear if political heavyweight and new economy minister Sergio Massa can do what it takes to get things on track.

Shelly Shetty, Sovereigns Managing Director, and Richard Francis, Primary Analyst for Colombia, discuss the outlook for Colombia’s economy, public finances & governability under the incoming administration of Gustavo Petro who assumes presidency in August.

Shelly Shetty, Managing Director, Sovereigns, and Charles Seville, Co-Head of Americas Sovereigns, discuss the US’s sovereign rating and the rationale behind Fitch’s recent decision to revise the Outlook to Stable from Negative.

Brian Coulton, Chief Economist at Fitch, joins Ed Parker, Sovereigns Managing Director, to discuss unrelenting global inflation pressures, the Fed’s impending return to a restrictive monetary policy stance and the implications for the global economy.

Thomas Rookmaaker, Head of APAC Sovereign Ratings, and Sagarika Chandra, Lead Analyst for the Philippines, discuss the President-Elect’s economic agenda and the implications for the sovereign’s BBB rating and Negative Outlook.

Doug Offerman, Senior Director for Canadian provincial ratings, and Kelli Bissett-Tom, Director for the Canada rating, discuss the credit impact of the 2022 budget season for Canada, Alberta, British Columbia, Ontario, and Quebec.

Saif Shawqi, Associate Director, Islamic Finance, and Bashar Al Natoor, Global Head of Islamic Finance, discuss the development of ESG-related products in the GCC, the growth of green & sustainable sukuk, and more.

Shelly Shetty, Managing Director, Sovereigns, and Richard Francis, Senior Director, Sovereigns, explore the economic and fiscal outlook for Chile in 2022 and the prospects under the new administration of President Gabriel Boric.

Senior Sovereign Ratings Directors Jan Friederich and Erich Morales discuss the economic outlook and operating environment in Turkey following Fitch's February downgrade of the country's sovereign credit rating to 'B+' from 'BB-'.

Paul Gamble, Senior Director of Sovereign Ratings, and Malgorzata Kleniewska Wodtke, Senior Director of Financial Institutions, discuss the macroeconomic outlook for Central and Eastern Europe, including growth expectations, inflation and more.

Thomas Rookmaaker, Head of Asia-Pacific Sovereign Ratings, and Jeremy Zook, Sovereigns Director, Lead Analyst for India, discuss the implications of India’s recent budget for the medium-term fiscal outlook and sovereign rating.

Toby Iles, Head of Middle East and Africa Sovereign Ratings, and Jermaine Leonard, Sovereigns Director, Lead Analyst for Ghana and Zambia, discuss the recent downgrade of Ghana’s sovereign rating and consider Zambia’s G20 Common Framework prospects.

Michele Napolitano, Head of Western Europe Sovereigns and Malgorzata Glowacka, Associate Director, discuss the findings of Fitch’s recent special report “Ireland’s Exceptional Economic Performance Places Debt/GDP on a Firm Downward Path”

Shelly Shetty, Head of Americas and Asia Pacific Sovereigns and Brian Coulton, Chief Economist, discuss the policy implications of increasing inflation as the Fed responds to growing evidence that US inflation is broadening to services and wages.

Cristina Torrella, Senior Director, Financial Institutions, and Fernando Sanchez, Lead Analyst for Andorran banks, discuss latest developments in the Andorran operating environment, as well as how banks are expected to navigate challenges ahead.

Shelly Shetty, Managing Director, Sovereigns, and Richard Francis, Senior Director, Sovereigns, discuss how elevated commodity prices and the reopening of domestic economies are helping Chile, Colombia and Peru recover from the shock of Covid-19.

Shelly Shetty, Managing Director, Sovereigns, and Marjan van der Weijden, Global Head of Financial Institutions, explore how cyber risk can be assessed at banks and insurance companies, as well as Fitch's recent collaboration with SecurityScorecard.

Shelly Shetty, Managing Director, Americas Sovereigns, and Carlos Morales, Director, Latin America Sovereigns, discuss the macroeconomic and fiscal outlook for Central America, including the region's recovery from pandemic-related disruptions.

Jan Friederich, Head of MEA Sovereigns, and Toby Iles, Lead GCC Sovereign Analyst, discuss GCC fiscal prospects amid higher oil prices, Oman’s medium term fiscal plan and the tension between fiscal consolidation and diversification in the region.

Mark Narron, Senior Director, Financial Institutions, and Kelli Bissett-Tom, Director, Americas Sovereign Ratings, talk rating implications for Canadian banks & the country's macroeconomic environment following Fitch’s 2020 sovereign rating downgrade.

Shelly Shetty, Managing Director, Americas Sovereigns, and Todd Martinez, Senior Director, Americas Sovereigns, explore the macroeconomic and political challenges ahead in Argentina and Ecuador following their respective debt restructurings in 2020.

Paul Gamble, Head of Emerging Europe Sovereigns, and Arvind Ramakrishnan, Director, discuss the rising prominence of rule of law issues in CEE and how they impact sovereign ratings.

Shelly Shetty, Managing Director, Americas Sovereigns, and Charles Seville, Co-Head of Americas Sovereign Ratings, discuss the potential economic implications of Mexico’s recent mid-term congressional elections.

Michele Napolitano, Head of Fitch’s Western Europe Sovereign Ratings, and Ed Parker, Head of EMEA Sovereign Ratings, discuss the impact of the Next Generation EU Fund on EU growth prospects and public finances.

Elevated debt levels in the wake of COVID-19 have exposed borrowers to global interest rate risks. Join Tony Stringer, Chief Operating Officer, Sovereigns and Brian Coulton, Chief Economist, as they discuss the outlook for US inflation, bond yields and the Fed.

How will China’s 14th Five-Year Plan impact its medium-term growth prospects? Will the Chinese yuan soon challenge the US dollar as one of the world’s leading global currencies? These are among the topics we will discuss on “China Perspectives,” a new Fitch Ratings podcast hosted by the firm’s lead sovereign analyst for China, Andrew Fennell. China Perspectives will feature candid discussions on the economic and credit developments most impacting China with experts from both within and outside of Fitch Ratings.As the first international credit rating agency to set up an office in in China in 1997, Fitch has unparalleled experience and market share in the region, with 21 active offices across the Asia-Pacific region. Subscribe to the new Fitch China Perspectives podcast, and stay tuned for our inaugural episode on the current state of onshore bond defaults, out this April on your podcast app.

Ed Parker, Head of Fitch’s EMEA Sovereign Ratings, and Tony Stringer, a Managing Director in the Sovereigns Group, discuss the risks facing emerging and frontier markets from Fed tapering its quantitative easing programme and rising US bond yields.

Shelly Shetty, Managing Director, Americas Sovereigns, and Richard Francis, Senior Director & Primary Analyst on Colombia, discuss Colombia’s economy, the recently unveiled tax reform, and key factors to resolve the country’s negative outlook.

Paul Gamble, Head of Emerging Europe Sovereigns and Douglas Winslow, Director, discuss Fitch’s the revision of the Outlook on Turkey’s ratings to Stable from Negative and the recent evolution of economic policy.

Jan Friederich, Head of Middle East & Africa Sovereigns and Krisjanis Krustins, Director covering GCC sovereign ratings, discuss GCC ratings in light of higher oil prices, political developments and reform announcements.

In this podcast, Shelly Shetty, Managing Director in the Sovereigns group, and Charles Seville, Senior Director in the Sovereign group, discuss what the Biden administration means for U.S. economic policy and the U.S. sovereign rating outlook.

Cote d’Ivoire recently became the first Sub-Saharan African sovereign to access international markets since the start of the pandemic crisis. Jan Friederich, Head of Middle East & Africa Sovereign Ratings, and James McCormack, Global Head of Sovereigns, discuss SSA’s growth prospects for 2021 and the financing pressures in the region.

In the latest Fixed Interests, Shelly Shetty, Managing Director of Sovereigns, and Todd Martinez, Director of Sovereigns, discuss the future economic prospects and challenges in Argentina and Ecuador following their respective debt restructurings in September. They compare and contrast the two restructurings and examine Fitch’s upgrade of Argentina’s ratings to CCC and Ecuador to B- with stable outlook, and the risk factors to monitor in these countries in 2021.

Jan Friederich, Head of Middle East & Africa Sovereign Rating, and Mahmoud Harb, Director, discuss the rationale for the recent downgrade of Morocco’s ratings to BB+ with Stable Outlook, the pandemic impact and prospects for the country.

Amidst the global pandemic, Korea is outperforming its peers as a result of virus containment and rebounding exports. Stephen Schwartz and Jeremy Zook of APAC Sovereign Ratings discuss Korea’s economic and trade outlook, policies, and key risks.

In this latest podcast, Shelly Shetty, Managing Director of Sovereigns, and Carlos Morales, Director of Latin America Sovereigns, discuss sovereign trends in Central America. They delve into the challenges Central America are facing including fiscal pressures, headwinds from the U.S. and the global recession, spread of the coronavirus, downgrades and Negative outlooks ratings, and more. Find out which countries can be more resilient and what’s ahead for the region.

Paul Gamble, Head of Emerging Europe Sovereign Ratings, and Douglas Winslow, Director and lead analyst for Turkey, discuss Fitch’s recent revision of the Outlook on Turkey’s sovereign rating to Negative from Stable.

Stephen Schwartz, Head of APAC Sovereign Ratings and Thomas Rookmaaker, Director and Lead Analyst for Indonesia, discuss the economic impact of the Coronavirus in Indonesia, the fiscal and monetary policy responses and long term growth prospect.

The pandemic has had a heavy impact on SSA ratings. Jan Friederich, Head of Middle East & Africa Sovereign Rating, and Jermaine Leonard, Director, discuss the impact on sovereign ratings, the oil price shock, financing pressures and the G20 DSSI.

Climate change is a huge topic of political, social and financial market discourse. Ed Parker, Head of Fitch’s EMEA Sovereign Ratings, and Tony Stringer, a Managing Director in the Sovereigns Group, discuss the main types of climate change risks, the uncertainties involved and the impact on sovereign ratings.

In the latest edition of Fixed Interests Shelly Shetty, Managing Director, and Kelli Bissett-Tom, Director and primary analyst for Peru, discuss the recent downgrade of Peru’s Local Currency IDR and its equalization with the Foreign Currency IDR which was also affirmed with a Stable Outlook. They examine the challenges ahead for Peru’s economic and fiscal profiles amid the coronavirus pandemic and an impending election cycle.

Nigeria faces significant challenges from the pandemic shock. Jan Friederich, Head of Middle East & Africa Sovereign Rating, and Mahmoud Harb, Director, discuss ongoing pressures on Nigeria’s external finances, its funding plan and growth outlook.

Forecasts cut again, but global economy close to bottoming out. Tony Stringer, Chief Operating Officer, Sovereigns and Brian Coulton, Chief Economist, discuss Fitch’s Global Economic Outlook - Crisis Update, May 2020

The GCC has been severely impacted by the global coronavirus pandemic. In this podcast, Jan Friederich, Head of Middle East and Africa Sovereign Ratings, and Krisjanis Krustins, Director and GCC Sovereigns analyst, discuss how sharply lower oil prices and the coronavirus crisis affect GCC sovereign ratings and currency pegs.

Shelly Shetty, Co-Head of Sovereigns-Americas, and Charles Seville, Senior Director, Americas Sovereigns, discuss Mexico’s rating downgrade, our main rationale behind our rating action and our overall views on how Mexico is placed to face the current difficult circumstances of global recession, including the contraction of the U.S., lower oil prices, coronavirus impact and other potential hits. What are the main drivers of Mexico’s economic recession? How will Mexico respond to the external shocks, and what’s ahead?

The lockdown on Wuhan has been lifted and China’s economy is recovering gradually. Stephen Schwartz and Andrew Fennell of APAC Sovereign Ratings, discuss China’s economic prospects, the course of policies, and implications for the sovereign rating.