Equity markets have experienced near-record levels of volatility in the past few months and consensus credit risk estimates have also showed major changes recently. This analysis suggests that the link between credit risk and equity markets may be significant, especially in the current environment.

April’s consensus credit data shows the dramatic global impact of the Covid crisis on risk estimates.

Download full G5 Corporate Borrower Credit Risk Distributions infographic below. A raft of stimulus packages have been announced by Governments globally in an effort to combat the worst economic effects of the COVID-19 downturn. Tax deferrals, debt repayment holidays and income subsidies are some of the measures proposed to help

The IMF anticipate a global recession following the COVID-19 lockdowns.  A sharp spike in corporate defaults is inevitable, but this will be mitigated by various Government support programs.  Financial history is littered with economic and financial crashes followed by waves of defaults, but this biological crisis is almost unprecedented.  Perhaps

The Covid crisis is probably the first time in history that a globalised, highly interconnected economy has been effectively shut down for at least one quarter. The economic impact is expected to reduce 2020 global GDP by 20-30%, and rescue attempts will push Government debt to levels not seen since

Download PDF Credit Benchmark has published the latest monthly credit consensus data (from February 2020) based on contributions from 40+ financial institutions, covering 50,000 separate legal entities. The monthly upgrades and downgrades overview is now based on data adjusted for changes in contributor mix. Monthly consensus upgrades and downgrades: Last