Coronavirus Effects
The coronavirus outbreak is disrupting economies and credit markets worldwide. The impact on issuers’ credit profiles and the economy will depend on the severity and duration of the crisis.
  • SUMMARY
  • REPORTS
  • Videos & podcasts
  • CRE Impact Dashboard
  • Live View
  • News Sentiment Analysis
  • Moody's response to the pandemic
  • Global Ratings Review Summaries
    SECTOR PROFILE
    04 May 2020|Moody's Investors Service
    This report highlights our research insights and rating activities in the week ended May 1.
    SECTOR IN-DEPTH
    01 May 2020|Moody's Investors Service
    The credit quality of some US public finance issuers weakened in the March 1 to April 15 period amid the impact of the coronavirus crisis. This report contains a summary of rating actions during that period for the states, local government, healthcare, higher education, nonprofit organization, housing, mass transit and municipal infrastructure sectors. 
    SECTOR PROFILE
    15 Apr 2020|Moody's Investors Service
    This report contains a summary of financial institution rating actions in the month of March. The referenced ratings in this report vary by sector (generally deposits for banks, insurance financial strength for insurance companies and senior unsecured debt for others).

    SECTOR IN-DEPTH
    04 May 2020|Moody's Investors Service
    Deteriorating profitability and weakening asset quality will begin to erode the capital of at least some banks as the global economic shock broadens and lengthens. Lower capital would materially increase the credit vulnerability of these banks.

    WEBINAR REPLAY
    30 Apr 2020|Moody's Analytics
    In this webinar, Mark Zandi and the Moody’s Analytics team answer wide-ranging questions from audience participants stemming from the economic impact of COVID-19.

    VIDEO
    VIDEO
    27 Apr 2020|Moody's Investors Service
    Colin Ellis of the Credit Strategy & Research team discusses how the coronavirus crisis intersects with the six major credit themes we identified for 2020: recession risks, lower-for-longer interest rates, political risks, trade tensions, disruptive technologies and ESG impact.
    Coronavirus Policy ResponseView more
    SECTOR COMMENT
    29 Apr 2020|Moody's Investors Service
    Fiscal and monetary authorities are increasingly stepping up the level of support to their respective economies. Fiscal measures include immediate support to households in the form of tax relief and transfers, credit lines and subsidies to businesses and explicit government guarantees on bank loans.
    SECTOR IN-DEPTH
    28 Apr 2020|Moody's Investors Service
    The measures, which include increased fiscal spending and targeted monetary easing, will help contain the damage to the Chinese economy from the coronavirus outbreak and facilitate modest economic recovery beginning in the second half of 2020.
    Macroeconomic commentaries and scenarios
    SECTOR COMMENT
    01 May 2020|Moody's Investors Service
    We project the US unemployment rate will reach 15.0% in the current quarter, as much of the economy remains shuttered. The rate will begin to taper off in the third quarter and continue to fall in each subsequent quarter through the end of 2021, provided the coronavirus crisis eases and businesses gradually resume normal operations.
    OUTLOOK
    28 Apr 2020|Moody's Investors Service
    We have lowered our 2020-21 real GDP forecasts for all G-20 economies, as the coronavirus crisis has led to a near shutdown of the global economy. The coronavirus also will have long-term economic implications that reshape trade, consumption patterns, and the nature of work in some sectors.

    SECTOR COMMENT
    05 May 2020|Moody's Investors Service
    About a third of household consumption will either be postponed or lost during the lockdown period. The impact on GDP and corporates will vary, with France and Germany likely perform better.
    WEBINAR REPLAY
    23 Apr 2020|Moody's Analytics
    With the rapid deterioration in the global economy as a result of the COVID-19 pandemic, Moody's Analytics team present an update to our economic outlook for Europe.
    Coronavirus impact on sectorsView more
    OUTLOOK
    30 Apr 2020|Moody's Investors Service
    For the first time since 2008, positive industry sector outlooks vanished in the first quarter as coronavirus, travel restrictions, social distancing and an oil price shock pushed 20 of the 52 industry sector outlooks that we track in a negative direction.

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    PODCAST
    05 May 2020|Moody's Investors Service
    Mickey Chadha from the Corporates team and Suzanne Miller from Ratings and Research talk about how the coronavirus crisis is causing severe dislocation in the US retail industry and how this is driving retail’s speculative-grade default rate forecast higher. ​​
    SECTOR IN-DEPTH
    05 May 2020|Moody's Investors Service
    The economic shock from the coronavirus pandemic poses a greater threat to the viability of small businesses than prior downturns, heightening performance risks for exposed ABS.

    MARKET COMMENT
    04 May 2020|Moody's Analytics
     How will COVID-19 reshape the dynamics of office space as an income-generating asset class? This analysis looks back at how the sector has evolved over the last four decades and speculate on the near- and long-term effects of COVID-19, as well as the degree of impact by industry and geography.
    SECTOR IN-DEPTH
    24 Apr 2020|Moody's Investors Service
    The speculative-grade default rate for emerging market companies will likely rise significantly by the end of the year. We base our forecasts on the expectation of a global recession and widening high-yield spreads, as coronavirus-induced economic disruption and financial market turmoil have intensified.

    VIDEO
    VIDEO
    28 Apr 2020|Moody's Analytics
    Challenged by the COVID-19 pandemic and economic contraction, US retail properties will likely record historic measures of distress in 2020. How will retailers like Macy’s fare? In this video, Moody's Analytics head of commercial real estate Victor Calanog analyzes geographic concentration. A detailed analysis of both risk and pockets of strength and opportunity are necessary.
    SECTOR IN-DEPTH
    24 Apr 2020|Moody's Analytics
    COVID-19 continues to be a major driver of credit risk. Understand the impact of COVID-19 on US Middle Market Corporate Firms.