Videos uploaded by user “S&P Global Ratings”
The Rating Process Explained
As part of our series of 'Understanding Ratings' videos, Timothy Poole, Director, Client Business Management, explains the process that a Corporate issuer undertakes to get a rating from Standard & Poor's.
Views: 2913 S&P Global Ratings
Dans Quelles Mesures «Bâle 3» Et «Solvabilité 2» Pourraient
Selon Standard & Poor's, l'entrée en vigueur des standards de régulations internationales « Bâle 3 » et « Solvabilité 2 » pourrait avoir des répercussions plus importantes sur les entreprises européennes que sur les entreprises américaines, principalement en raison de la prépondérance du financement bancaire en Europe par rapport au financement obligataire. Dans cet épisode de CreditMatters TV, Blaise Ganguin, Chief Credit Officer pour l'Europe chez Standard & Poor's présente les tenants et aboutissants de ces nouvelles réglementations ainsi que l'impact qu'elles pourraient avoir sur l'accès au financement des entreprises européennes.
Views: 6954 S&P Global Ratings
SP: Covered Bonds: What They Are And How They Work
May 16, 2011 - Covered bonds are a growing asset class. These instruments are used extensively across Europe and are quickly growing in other global markets. In this CreditMatters TV segment, Standard & Poor's Managing Director Peter Eastham, Structured Finance, provides insight into how covered bonds work within these markets.
Views: 4720 S&P Global Ratings
Industry Top Trends 2018 Telecoms
S&P publishes its outlook for top trends in the global telecoms industry, including sector strategies to address growth concerns, and the potential implications of high expected investment on credit quality.
Views: 1894 S&P Global Ratings
How Catastrophe Models Affect Risk Management for Reinsurer
For most insurers and reinsurers exposed to a substantial level of natural catastrophe risks, catastrophe models developed by professional modeling firms play a central role in how they manage catastrophe risk. In this CreditMatters TV segment, Standard & Poor's Director Miroslav Petkov discusses how the use and understanding of catastrophe models can affect several categories of Standard & Poor's analysis, including management and corporate strategy, capitalization, and enterprise risk management (ERM).
Views: 2502 S&P Global Ratings
O caminho está livre para as locadoras de veículos brasilei
O recente resfriamento da expansão econômica do Brasil não paralisou o desempenho do mercado de locação de veículos. O rápido crescimento da economia brasileira entre 2004 e 2011 -- período em que o PIB cresceu 22,4%, de R$ 3,14 trilhões para R$ 4,14 trilhões -- permitiu que o mercado de locação de veículos mais que dobrasse, de R$ 2,68 bilhões para R$ 5,67 bilhões (aumento de 111,6%). Isto estimulou as locadoras de veículos a realizar investimentos significativos: a frota consolidada do setor no Brasil cresceu para 445.470 veículos em 2011, ante os 203.650, em 2004
Views: 2313 S&P Global Ratings
Leveraged Finance: How Asset-Based Loans Affect Borrowers A
Asset-based loans (ABLs) are low-interest corporate loans secured by borrowers' working capital assets. The assets constitute a borrowing base, which governs the amount of money a lender provides a borrower. ABLs influence recovery, and U.S. speculative-grade rated companies are increasingly incorporating asset-based credit facilities into their capital structures. In this CreditMatters TV segment, Director Greg Maddock provides an in-depth look at how ABLs function and how they affect borrowers and lenders.
Views: 1582 S&P Global Ratings
How The Rental Assistance Demonstration Program Could Benefit U.S. Public Housing
The U.S. Department of Housing and Urban Development's Rental Assistance Demonstration (RAD) program provides funding for modernizing and rehabilitating low-rent public housing units. The plan aims to enable housing authorities to better address unmet capital needs in their existing housing. In this CreditMatters TV segment, Standard & Poor's Director Larry Witte explains how RAD could benefit public housing.
Views: 964 S&P Global Ratings
How Rising Interest Rates Affect Mortgage Servicing Rights
As interest rates rise, mortgage banking revenues and earnings decline. However, mortgage servicing right values improve, helping to offset weakened mortgage activity. In this CredittMatters TV segment, Senior Director Jonathan Nus and Associate Stephen Lynch explain how rates affect mortgage servicing rights, earnings, and bank and nonbank balance sheets.
Views: 1022 S&P Global Ratings
Standard & Poor’s Response To The TLAC Consultation: All In On Bailing In?
The Financial Stability Board published in November 2014 a consultation on total loss-absorbing capacity (TLAC) requirements for global systemically important banks. In this CMTV segment, Director Alexandre Birry discusses some of the main features and implications of the proposal.
Views: 993 S&P Global Ratings
Now Growth Has Stalled, What’s Next For The Russian Economy?
The Russian economy is operating in an environment of wide-ranging international sanctions and growth came to a halt in the first half of the year. In this CMTV, economist Tatiana Lysenko discusses the sanctions’ impact on the Russian economy and implications on the growth outlook.
Views: 1223 S&P Global Ratings
Cómo Las Medidas de Desdolarización del Banco Central de Perú afectaran a los Bancos
El Banco Central de Perú ha implementado medidas para reducir los niveles de dolarización. En este segmento de CreditMatters TV, Cynthia Cohen Freue, Associate Director, y Amalia Bulacios, Associate, analizan el impacto de estas medidas sobre los bancos del país.
Views: 520 S&P Global Ratings
Standard & Poor's Assesses The U.S. Triparty Repo Market
The U.S. triparty repo market provides secured lending funds to banks and nonbanks. The market consists of three parties: collateral providers, cash lenders, and clearing banks. In this CreditMatters TV segment, Standard & Poor's Senior Director Devi Aurora explains how the market functions and why reforms are under way.
Views: 600 S&P Global Ratings
Why Nonproportional Reinsurers Face Disproportionate Pricing Pressures
Nonproportional reinsurance, also known as excess of loss reinsurance, kicks in when losses exceed the agreed-upon amount set forth in a treaty. However, nonproportional rates are more flexible than proportional reinsurance pricing. In this CreditMatters TV segment, Standard & Poor's Associate Director Jason Porter explains how pricing pressures have a greater impact on nonproportional reinsurers.
Views: 970 S&P Global Ratings
An In-Depth Look At S&P's Credit Ratings And Their Value To
In this CreditMatters TV segment, Standard & Poor's Country Representative for Turkey, Zeynep Holmes, and Head of Corporate and Government Ratings, Yann Le Pallec, provide an in-depth overview of ratings, Standard & Poor's core business. Additionally, they discuss the purpose of a credit rating, their independence, performance, and the role of ratings in global financial markets.
Views: 1212 S&P Global Ratings
Três principais riscos de crédito para FIDCs abertos
Neste segmento de CMTV, o analista de crédito Marcelo Graupen comenta os principais riscos presentes nos FIDCs abertos: a definição de promessa avaliada, o risco de liquidez e o risco de concentração.
Views: 573 S&P Global Ratings
S&P Global Ratings Spotlight: Green Finance - Global Perspectives
In the first S&P Global Ratings Spotlight Series video, senior regional sales leaders share their thoughts on the remarkable growth of green finance. As investors are increasingly ramping up capital allocations in low-carbon assets, we ask which regions are issuing most, and in what industries?
Views: 3542 S&P Global Ratings
Basel III: How It Will Reshape The Playing Field For Global
Banks have long provided the overwhelming majority of project finance funding. However, that will change. And soon. Standard & Poor's believes that Basel III's stricter standards concerning bank liquidity and capital adequacy will profoundly alter the global project finance funding landscape. In this CreditMatters TV segment, Director Trevor D'Olier-Lees explains the new rules and what the dimensions of the new playing field might be. Topics include Basel III's affect on credit quality, maturing loans, banks, all project finance sectors including the power industry, and equity funds.
Views: 1143 S&P Global Ratings
Basel III Offers New Opportunities For Islamic Banks
Revised capital requirements for Basel III could help to strengthen the Islamic finance industry. In this CMTV, credit analyst Mohamed Damak discusses what Basel III could mean for Islamic banks and the global growth potential of that market.
Views: 333 S&P Global Ratings
Derivative Product Companies: What They Are And How They Wo
Derivative product companies (DPCs) originate, intermediate, or guarantee derivative product transactions and are capitalized as separate operating entities from the sponsoring financial institutions. In this CreditMatters TV segment, Standard & Poor's Senior Director Jake Cho explains how DPCs work. Topics include termination and continuation structures, intermediation, and the basic analytical framework.
Views: 493 S&P Global Ratings
What Prompted Standard & Poor’s Rating Action On Deluxe Entertainment Services Group
In this CreditMatters TV segment, Standard & Poor’s credit analyst Peter Bourdon discusses the reasons behind our recent rating action on Deluxe Entertainment Services Group.
Views: 2841 S&P Global Ratings
Turkey And Indonesia – On Different Tracks
Turkey and Indonesia are heading in opposite directions in terms of creditworthiness, because of policy trends and varying exposure to external risks. In this CMTV segment, Associate Aarti Sakhuja discusses the issues driving the different outlooks on the ratings of Turkey and Indonesia.
Views: 1656 S&P Global Ratings
SP: Standard & Poor's Responds To IASB's Exposure Draft On Hedge Accounting
April 5, 2011 - In this CreditMatters TV segment, Standard & Poor's Director and Accounting Specialist Sam Holland provides our perspective on the proposed changes to the International Accounting Standards Board's (IASB) Exposure Draft on hedge accounting. Overall, we support the proposed changes, which should make hedge accounting more accessible for companies using derivatives for risk management purposes. We feel such changes would also provide more transparency about hedging activities and will better reflect companies' risk management activities. The proposal itself would have little effect on our credit analysis process.
Views: 595 S&P Global Ratings
Riesgos cambiarios para las empresas en América Latina
El riesgo cambiario es importante desde una perspectiva crediticia porque puede afectar o mejorar los flujos de efectivo y capacidad de repago de deuda de las empresas. En este segmento de CreditMatters TV, Diego Ocampo, Director, habla sobre los factores detrás de la debilidad de las monedas en América Latina y cómo podría impactar el desempeño de las empresas en la región.
Views: 526 S&P Global Ratings
Central Bank's List Of Systemically Important Russian Banks: Will It Impact The Banking Sector?
Standard & Poor's believes that the eventual publication of the list of systemically important Russian banks might impact sector's regulatory and competitive environment, although without immediate impact on the banks' ratings. In this CreditMatters TV, ratings specialist Yulia Kozlova discusses potential consequences of the publication of this list.
Views: 619 S&P Global Ratings
What's Driving Strong CLO Performance
Collateralized loan obligation issuance totaled about $56 billion in 2012, and the pipeline for this year looks strong. In this CreditMatters TV segment, Standard & Poor's Senior Directors Rob Radziul and Ramki Muthukrishnan discuss CLO issuance, collateral attributes, transaction's structural features, and the factors driving CLO performance.
Views: 1073 S&P Global Ratings
U.K. CFD-Backed Power Projects To Make A Difference
The U.K.’s "contracts for difference" scheme will continue to encourage investment in low-carbon generation as a key component of the government’s market reform program. As CfDs shield generators from volatility in wholesale prices, its key credit impact in our ratings would be reduced market risk.
Views: 124 S&P Global Ratings
Tratado De Libre Comercio: Qué Significa Para Panamá
El Congreso de Estados Unidos aprobó recientemente el tan postergado tratado de libre comercio con Panamá. ¿Cuáles son las implicaciones para el país? En este segmento de CreditMatters TV, Roberto Sifon Arévalo, Director de Standard & Poor's, analiza lo que el pacto podría significar para Panamá. Entre los temas que comenta se encuentra cómo ha logrado el país mantener su estatus de grado de inversión de 'BBB-', y lo que el reciente reacomodo del gabinete podría significar para las calificaciones.
Views: 1150 S&P Global Ratings
Walgreens Boots Alliance’s Debt-Financed Acquisition Of Rite Aid Prompts A Standard & Poor’s Out
Walgreens Boots Alliance announced that it is acquiring Rite Aid Corp. in a $17.2 billion transaction funded largely with debt and existing cash. In this CreditMatters TV segment, Director Andy Sookram discusses the reasons behind our outlook revision on Walgreens Boots Alliance.
Views: 581 S&P Global Ratings
What's Behind Standard & Poor's Rating On The Dominican Republic
Standard & Poor's rating on the Dominican Republic reflects the country's potential for growth but takes various economic weaknesses into account. In this CreditMatters TV segment, Standard & Poor's Director Richard Francis discusses the factors influencing the rating.
Views: 395 S&P Global Ratings
How Has GTECH’s IGT Acquisition Affected Ratings And Industry Dynamics?
We recently lowered ratings on the leading lottery operator GTECH and placed ratings on Credit Watch with negative implications because of the acquisition of IGT, the leading gaming equipment supplier . Join Associate Director Ariel Silverberg and Director Melissa Long as they outline factors that could trigger a further downgrade, and dynamics of the gaming industry.
Views: 417 S&P Global Ratings
The Trends Driving U.S. Commercial Mortgage Special Servicers
Standard & Poor's recently reviewed the U.S. commercial mortgage special servicers we rank. In this CreditMatters TV segment, Standard & Poor's Associate Andrew Foster highlights the key trends shaping the sector, such as delinquency rates, real estate owned sales, and hold times. Topics include volumes and how they relate to new issuance trends.
Views: 611 S&P Global Ratings
Bancos e seguradoras no Brasil lucram com o negócio de bancassurance em uma economia desafiadora
Neste segmento de TV CreditMatters, Amalia Bulacios, Ratings Specialist, e Sergio Garibian, Senior Director, da Standard & Poor's, sintetizam as conclusões que chegaram com relação à importância do bancassurance no Brasil e as razões para o sucesso desse canal de distribuição no país.
Views: 417 S&P Global Ratings
U.S. Theme Parks: What's Behind Standard & Poor's Cautious
During 2011, Standard & Ratings took four positive rating actions on three U.S. theme park operators: Cedar Fair (B+/Watch Pos), SeaWorld (BB-/Stable), and Six Flags (BB/Stable). Will positive ratings momentum continue for these speculative-grade rated companies this year? In this CreditMatters TV segment, Associate Director Ariel Silverberg discusses why business conditions should remain stable despite inherent risks. Topics include cyclicality, cost containment, business risk profiles, discretionary spending, and what could stimulate further positive rating actions.
Views: 314 S&P Global Ratings
S&P's View On Proposed Changes To The Basel Securitization Framework
The Basel Committee's proposed changes to the way banks calculate regulatory capital charges on securitization exposures could lead to an uneven playing field and lower risk sensitivity. In this CreditMatters TV segment, Standard & Poor's Senior Director Andrew South discusses S&P's concerns over some of the proposals.
Views: 241 S&P Global Ratings
Brazil's Banks and Insurers profit from Bancassurance in a sluggish economy
In this CreditMatters TV segment, Standard & Poor's Ratings Specialist Amalia Bulacios and Senior Director Sergio Garibian summarize the conclusions we have reached regarding the importance of Bancassurance in Brazil and the reasons for the success of this distribution channel in the country.
Views: 492 S&P Global Ratings
Non-GAAP Measures Provide Value But Lack Consistency
Non-GAAP measures provide management and users of financial reports with additional analytical insight into a company's performance and financial condition. However, in many instances the measures lack consistency when it comes to calculation and disclosure. In this CreditMatters TV segment, Standard & Poor's Shripad Joshi discusses why these measures need adjusting.
Views: 472 S&P Global Ratings
How United Rentals? Acquisition Of RSC Holdings Could Boost
U.S.-based equipment rental company United Rentals Inc. recently announced plans to acquire competitor RSC Holdings Inc. for about $4.2 billion. As a result, Standard & Poor's has affirmed its 'B' corporate credit rating on United Rentals. How will this proposed transaction pan out for both companies? In this CreditMatters TV segment, Associate Director Sarah Wyeth and Director John Sico discuss the likely benefits and risks. Topics include consolidation, outsourcing trends, and market penetration.
Views: 1283 S&P Global Ratings
Global Corporate Leverage Trends 2018
S&P Global Ratings warns that the high leverage of global corporates could trigger the next default cycle; find out more in this video featuring the key findings of “Global Corporate Leverage Trends 2018: Debt High, Defaults Low – Something’s Gotta Give.”
Views: 436 S&P Global Ratings
Will A FedEx – TNT Merger Deliver On Credit Quality?
In this CreditMatters TV segment, Standard & Poor’s Managing Director Philip Baggaley discusses the strategic rationale, competitive impact, and credit implications of the planned merger between FedEx Corp. and TNT Express N.V.
Views: 756 S&P Global Ratings
Cash Flow Leverage Analysis Ratios
As part of its proposed criteria revision, Standard & Poor's Ratings Services is updating its methodology for assessing the Financial Risk Profile. In this Credit Matters TV, Standard & Poor's Managing Director and Analytical Manager Tobias Mock gives an overview on the principles of our proposed cash flow and leverage analysis.
Views: 654 S&P Global Ratings
Project Finance Structure Methodology: What?s Behind Our Re
On Nov. 17, 2011, Standard & Poor's published its request for comment concerning project finance structure methodology. What's prompting our request? In this CreditMatters TV segment, Ian Greer, global analytical coordinator for Project Finance and Infrastructure, provides a broad overview of our project finance methodology. Topics include transparency and consistency, transaction structure, criteria components, and the potential impact on ratings.
Views: 1595 S&P Global Ratings
How Principles-Based Reserving Will Likely Affect U.S. Life Insurers
U.S. insurers could soon begin using principal-based reserve accounting for life products. Standard & Poor's believes the new methodology will provide the market with better data. Moreover, it will improve our ratings process. In this CreditMatters TV segment, credit analyst Matthew Walker discusses how principal-based reserving will affect companies and their products.
Views: 176 S&P Global Ratings
Did Shadow Banking Destabilize China's Financial System ?
China's shadow banking activities are growing rapidly and could have significant and far-reaching impact on the country's financial system. In this CreditMatters TV segment, Managing Director Ryan Tsang discusses the risks associated to various shadow banking activities and the potential impacts to the Chinese financial sector
Views: 809 S&P Global Ratings
Can Singapore REITs Withstand A Weaker Rental Outlook And A
Singapore's real estate investment trusts (S-REITs) face a test of their financial management. The leasing market is deteriorating and the funding environment is likely to become more volatile over the next two years. In this CreditMatters TV segment, Standard & Poor's Director Wee Khim Loy provides our outlook for the S-REITs markets and the credit risks facing investors.
Views: 667 S&P Global Ratings
The Rise of Shadow Banking in Global Project Finance
Alternative funding sources and institutional players could provide up to $25 billion of project finance debt in 2013. In this CreditMatters TV segment, Standard and Poor's Managing Director Michael Wilkins discusses how the shadow banking sector has the potential to be of great benefit to the infrastructure sector provided key risks such as construction are understood.
Views: 486 S&P Global Ratings
U.K. Interest-Only Mortgage Borrowers Face Refinancing Stru
Interest-only mortgage loans have fallen out of favour in the past few years. In this CreditMatters TV segment, Mark Boyce discusses how tighter lending standards could mean that prepayment rates on these loans will remain low. There is also a rising risk of loan defaults at maturity.
Views: 1306 S&P Global Ratings
Basel II Turk Bankaciligi Icin Neler Getirecek?
Temmuz 2012'de Turk bankalari Basel II uygulamasina gecerek Sermaye yeterlilik oranlarini ilk kez bu uygulamaya gore hesaplayip raporladilar. Standard & Poor's bu gelismeye olumlu bakmakta ve Basel II'nin Turkiye banka sistemi uzerindeki etkisinin olumlu olacagini beklemektedir. CreditMatters TVnin bu bolumunde, Turkiye bankalari bas analisti Goeksenin Karagoez ve Turkiye Bolge Muduru Zeynep Holmes, Basel II'nin Turk bankalari uzerindeki etkisini tartisiyor.
Views: 337 S&P Global Ratings
The Triparty Repo Market's Operational Resilience Improves, But What Lies Ahead?
The U.S. triparty repo market is an important funding source for banks and a key connector between banks and nonbank financials. Post-crisis reform initiatives have yielded tangible improvements, but uncertainties remain from the impact of new regulations. In this CreditMatters TV segment, Standard & Poor's Senior Director Devi Aurora discusses what lies ahead for the market.
Views: 352 S&P Global Ratings

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