Latest Credit Benchmark data shows that the credit rating of a country’s financial system is heavily influenced by that of the Sovereign, and, in countries with the strongest credit, the Financial sector is stronger than the Corporate sector.
Credit Benchmark have released the April Industrials Credit Consensus Indicators (CCIs). US Industrial firms return to negative credit balance this month. UK Industrial firms ended their trend of net deterioration, with a neutral credit quality score. EU Industrial firms continue their run of positive credit movement.
Renewable energy is at the centre of efforts to tackle climate change, but there have been setbacks to growth. 80%+ of energy demand is still met by fossil fuels, with fossil fuel companies reporting record profits as global energy prices spike. In the past two years, renewable credit risk has deteriorated and traditional energy has improved. However, there are some signs that the credit tide may be turning.
Credit Benchmark have released the February Consumer Services Credit Consensus Indicators (CCIs). This month the consensus outlook on EU Consumer Services firms is back in positive territory, whilst US Consumer Services firms return to net deterioration. UK Consumer Services firms have experienced recent instability in their collective credit balance.
The February Monthly Credit Outlook looks at recent credit trends and highlights seen in the consensus dataset. This month, credit risk is elevated but some positive surprises may be possible.
Pension funds are traditionally well capitalised and usually considered investment grade. Many of the companies that sponsor those funds are weaker credits, and a significant number are non-investment grade. This means that some of the largest DB pension funds in the UK cannot rely on their sponsors for cash support to meet margin calls.
Inflation dominated Q3 financial news, and the resulting short rate squeeze is biting while credit volatility is rising and the COVID recovery is running out of steam. Risk indicators are high in the UK, and oil and gas price volatility has brought havoc to Europe. In North America, weaker credit trends are appearing in several sectors. Believe it or not, there are some bright spots amidst this turmoil. This whitepaper elaborates on some of these trends and shows where credit could be headed next.
In the newly published special report from Structured Credit Investor (SCI), Mark Faulkner, co-founder, Credit Benchmark, investigates how Credit Consensus data can help support growth in SRT activity.
Modern Slavery, Child Labor and Human Trafficking Statement Credit Benchmark believes that human rights are an absolute and universal standard, and everyone has a basic
UK Industrial firms are in a positive position for the fourth time this month, suggesting a trend of improvement is forming. EU Industrial firms have registered another positive CCI for this month, which is the thirteenth consecutive instance of a positive score. Consensus opinion on credit quality for US Industrial firms is still in positive territory, although their CCI score has significantly decreased from last month.
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