Moody’s proprietary indicators and data point to months of stress for emerging market sovereigns, sub-sovereigns, companies and financial institutions because of coronavirus pandemic-related global economic and financial upheaval.
While financial conditions are gradually stabilizing for most major emerging markets, the coronavirus pandemic’s shock to growth, earnings and debt burdens will increase credit vulnerabilities in the second half of 2020.
Artem Frolov of the Corporates team provides insight about our cautiously optimistic view of Russian oil companies’ credit dynamics despite the adverse operating environment. Plus, Michael Higgins of the Sovereign team discusses the challenges and recovery prospects for non-investment grade emerging and frontier market sovereigns.
