Report suggests sector is on track to top last year’s record
North American issuers made up majority of defaults so far this year
The rate, which was at 4.6% in November, is expected to continue declining to 3.2% next November, well below the historical average of 4.2%
The firm reports that 11 rated companies defaulted in July, pushing the year-to-date total to 102 defaults
The new regulatory requirements applying to the nine systemically important insurers is credit positive and will have little impact on these firms’ businesses
The result of the recent Brexit referendum has resulted in a lower outlook for the U.K.’s banking system and 12 banks and building societies
But five largest banks moving to less risky products
Moody’s report suggests that weak demand from China could further drag down volumes, prices and margins in the oil and gas sector
Moody’s expects supply/demand equilibrium will eventually be reached at around US$75 a barrel for Brent crude, but not until the end of the decade
It’s expected that global green bond issuance will “far exceed” last year’s record of almost US$37 billion