Although the European leveraged finance market experienced a significant deterioration in credit ratings during 2002, the ratio of upgrades versus downgrades has started to stabilise in 2003, according to a report by Moody’s. ‘During 2002, rating trends in European leveraged finance remained very negative, with 71 downgrades compared to 56 in 2001,’ said Amanda Neff, Vice President-Senior Analyst at Moody’s London office and co-author of the report. Moody’s also noted that 2002 was a record year for defaults in Europe, with 32 defaults at a volume of over EUR43 billion – roughly twice that of the defaults recorded during the entire period of 1985-2001. ‘However, there are several encouraging trends that point to a broadening of horizons in this market,’ said Michael West, a Moody’s Senior Vice President. First of all, although issuance was relatively weak during 2002, the overall size of the market increased due to the influx of large fallen angels with approximately EUR40 billion in rated debt, such as ABB and Vivendi Universal.
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more