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The Rating Process Explained
 
03:46
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: 2495 SPTVbroadcast
SP: Covered Bonds: What They Are And How They Work
 
07:01
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: 4494 SPTVbroadcast
How Catastrophe Models Affect Risk Management for Reinsurer
 
05:11
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: 2293 SPTVbroadcast
Why Nonproportional Reinsurers Face Disproportionate Pricing Pressures
 
03:51
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: 851 SPTVbroadcast
Industry Top Trends 2018 Telecoms
 
03:58
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: 1102 SPTVbroadcast
Project Finance Structure Methodology: What?s Behind Our Re
 
06:54
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: 1576 SPTVbroadcast
Standard & Poor’s Response To The TLAC Consultation: All In On Bailing In?
 
04:56
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: 945 SPTVbroadcast
Turkey And Indonesia – On Different Tracks
 
02:54
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: 1523 SPTVbroadcast
How Sealed Air?s Acquisition  Of Diversey Holdings Could Af
 
05:07
Sealed Air Corp. is a leading global manufacturer of packaging and performance-based materials and equipment systems. The company is also a leading player in the fragmented protective-packaging category. Recently, Standard & Poor's placed its 'BB+' rating for Sealed Air on CreditWatch with negative implications, following the company's announcement that it has entered into a definitive merger agreement to acquire Diversey Holdings Inc. for $4.5 billion. If the transaction goes through, we expect to lower the corporate credit rating on Sealed Air to 'BB'. In this CreditMatters TV segment, Standard & Poor's Director Liley Mehta discusses the implications of the planned acquisition.
Views: 3363 SPTVbroadcast
How Rising Interest Rates Affect Mortgage Servicing Rights
 
05:44
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: 964 SPTVbroadcast
LyondellBasell Industries: What Led To The Upgrade
 
06:47
Standard & Poor's has raised its ratings on petrochemical company LyondellBasell to 'BB+', 18 months after the company emerged from bankruptcy. What turned the company's performance around? In this CreditMatters TV segment, Standard & Poor's Director Cindy Werneth provides an in-depth look at why we upgraded the company. Topics include an examination of the company's strong performance, and if this positive trend could shift LyondellBasell into the investment-grade category.
Views: 1386 SPTVbroadcast
What's Behind Our View Of The Swiss Banking System As One O
 
07:59
Despite risks to the Swiss banking system, we view it as one of the world's strongest. In this CreditMatters TV segment, Standard & Poor's Associate Dirk Heise discusses the strengths of the industry as well as potential threats to our BICRA assessment. Topics include our expectations for the risk and lending culture, house price growth, and Swiss banking regulation.
Views: 1249 SPTVbroadcast
How The Rental Assistance Demonstration Program Could Benefit U.S. Public Housing
 
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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: 863 SPTVbroadcast
O caminho está livre para as locadoras de veículos brasilei
 
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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: 1989 SPTVbroadcast
Bancos e seguradoras no Brasil lucram com o negócio de bancassurance em uma economia desafiadora
 
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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: 396 SPTVbroadcast
What's Behind Standard & Poor's Rating On The Dominican Republic
 
04:00
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: 374 SPTVbroadcast
How Standard & Poor's Structured Credit Surveillance Group
 
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Standard & Poor's structured credit surveillance group monitors over 2,800 transactions, about 2,250 of which are cash flow and synthetic collateralized debt obligations (CDOs). But how does the process work? In this CreditMatters TV segment, Senior Director Ramki Muthukrishnan provides an overview of the structured credit surveillance process. Topics include how cash-flow collateralized loan obligations are monitored and identified for rating action.
Views: 595 SPTVbroadcast
Leveraged Finance: How Asset-Based Loans Affect Borrowers A
 
05:55
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: 1504 SPTVbroadcast
Standard & Poor's Assesses The U.S. Triparty Repo Market
 
04:45
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: 571 SPTVbroadcast
What Is The Potential Impact Of Ring-Fencing On UK Bank Rat
 
05:58
The ring-fencing proposals have gained renewed momentum following the Parliamentary Commission report and while details are still vague, it is possible to consider the potential impact on ratings. In this CreditMatters TV Standard & Poor's Directors Osman Sattar and Nigel Greenwood discuss the impact on government and group support and also look at the wider outlook for UK bank ratings.
Views: 1608 SPTVbroadcast
The ABCs Of Rating CAT Bonds
 
05:58
Insurance-linked securities, specifically catastrophe bonds, are receiving more investor attention as an attractive alternative investment. In this CreditMatters TV segment, Standard & Poor's Director Gary Martucci explains what ILS are and how we look at CAT bonds, and gives an outlook on the market.
Views: 807 SPTVbroadcast
Walgreens Boots Alliance’s Debt-Financed Acquisition Of Rite Aid Prompts A Standard & Poor’s Out
 
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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: 572 SPTVbroadcast
Standard & Poor’s Chief Credit Officer Discusses His Strategy For Criteria
 
07:21
In this CreditMatters TV segment, Chief Credit Officers John Scowcroft and Mark Puccia assess the look and feel of our criteria, our immediate plan to improve its readability, and the long-term goal to systematically make our analytical approach to rating entities more rigorous.
Views: 283 SPTVbroadcast
How U.S. CMBS Servicers' Best Practices Continue To Evolve
 
04:38
U.S. CMBS servicers' business practices often change due to market conditions and regulatory shifts. Standard & Poor's believes that refining best practices remains important for the sector. In this CreditMatters TV segment, Associate Director Andrew Foster and Senior Director Ernestine Warner discuss how best practices continue to evolve.
Views: 241 SPTVbroadcast
What's Driving Strong CLO Performance
 
08:09
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: 1006 SPTVbroadcast
Latin America Monday Morning Roundup - July 16, 2018
 
01:31
Covering noteworthy research produced by S&P Global Ratings analysts in the region, "Latin America Monday Morning RoundUp" provides investors with a quick credit overview to start their week. Associate Director Rodrigo Cuevas hosts this weekly segment of CreditMatters TV.
Views: 142 SPTVbroadcast
What Prompted Standard & Poor’s Rating Action On Deluxe Entertainment Services Group
 
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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: 2791 SPTVbroadcast
Brazil's Banks and Insurers profit from Bancassurance in a sluggish economy
 
05:17
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: 481 SPTVbroadcast
How Foreign Currency Risk Continues To Affect Multinational Companies
 
05:15
Foreign exchange risk continues to affect multinational companies. In this CreditMatters TV segment, Standard & Poor’s Senior Director Shripad Joshi explains how the stronger dollar has created financial reporting challenges for companies and what lies ahead.
Views: 186 SPTVbroadcast
Cómo Las Medidas de Desdolarización del Banco Central de Perú afectaran a los Bancos
 
04:54
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: 498 SPTVbroadcast
Can Asia Develop A Project Bond Market to Fund Infrastructure?
 
05:22
In this CreditMatters TV segment, Ian Greer, Standard & Poor's Managing Director and Analytical Manager Corporate Ratings, discusses Asia's funding needs for project finance and highlights how the development of a project bond market in Asia can play a influential role.
Views: 331 SPTVbroadcast
Non-GAAP Measures Provide Value But Lack Consistency
 
03:59
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 SPTVbroadcast
Farewell, Discontinued Operations: How U.S. Financial Statement Analysis Just Got Tougher
 
04:44
In April, the Financial Accounting Standards Board raised the threshold for what constitutes a discontinued operation, decreasing transparency in the income statements of companies. In this CreditMatters TV segment, Standard & Poor's Director Mark Solak discusses the impact these changes will have on investors once adopted by U.S. companies.
Views: 328 SPTVbroadcast
Basel Liquidity Coverage Ratio Timing Changes ? What Are Th
 
03:46
The move from 2015 to 2019 for changes to the content liquidity coverage ratio has understandably been popular with banks. In this CreditMatters TV segment, Standard & Poor's Senior Director Richard Barnes discusses the S&P perspective on the change and the need for enhanced disclosure across the banking sector.
Views: 702 SPTVbroadcast
S&P Global Ratings Spotlight: Green Finance - Global Perspectives
 
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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: 3520 SPTVbroadcast
Despite Low Economic Risk,  Negative Profitability Remains in Irish Property Casualty Insurance Mark
 
05:05
Industry risk of Irish property casualty insurance market has increased in 2016. In this CreditMatters TV segment S&P Global Ratings Associate Tufan Basarir, CFA and Ratings Analyst Emma Millson discuss developments in 2016 and 2017 outlook for the Irish property/casualty sector.
Views: 183 SPTVbroadcast
How International Islamic Liquidity Management's Landmark Finance Program Affects Islamic Finance
 
05:01
Recently, Standard & Poor's rated the first finance program of the International Islamic Liquidity Management Corp. The organization creates short-term liquidity management tools for Islamic financial institutions. In this CreditMatters TV segment, Senior Director Eric Gretch explains how the program works and its impact on Islamic finance.
Views: 993 SPTVbroadcast
Corporate Green Bonds Set To Grow In Europe
 
04:38
Corporate green bonds, which raise funding for environmentally beneficial investments, are set to grow to $20 billion by year end, driven by the financing needs of issuers and by investors increasingly allocating capital to socially responsible and environmentally sustainable investments.
Views: 187 SPTVbroadcast
How Standard & Poor's New Bank Rating Methodology Factors I
 
05:31
Standard & Poor's revised its bank criteria last year to enhance the transparency and consistency in ratings globally and to reflect new developments in the financial sector in our rating opinions. The updated criteria employs our BICRA framework, bank-specific analysis, and external support analysis to assess issuers and assign issuer credit ratings. In this CreditMatters TV segment, Director Vikas Jhaveri discusses why we published the criteria and how we determine the issuer credit rating on banks.
Views: 541 SPTVbroadcast
Mortgage Servicing Rights Come To Light As Interest Rates Rise
 
04:36
Using Mortgage Servicing Rights (MSRs) as collateral is slowly gaining popularity with secured debt investors and becoming an offsetting factor to the decline in originations. In this CMTV segment, analysts Stephen Lynch and Dio Mejia discuss what makes MSRs unique assets, their impact on ratings through interest rate cycles and how to read financial statement footnotes and disclosures on them.
Views: 221 SPTVbroadcast
Danaher Corp. Maintains An 'A+' Rating Despite Its Debt-Incurring Acquisition Of Beckman Coulter
 
07:51
By proposing to acquire Beckman Coulter Inc. in February 2011, Washington-based medical and industrial equipment maker Danaher Corp. accepted higher debt levels and the risk of a credit rating downgrade. Standard & Poor's placed its 'A+' rating for the company on CreditWatch negative at the time. Yet after further review, we recently affirmed our rating on the company. In this CreditMatters TV segment, Director Gregoire Buet explains why we believe that Danaher's strong business risk profile, its ability to reduce debt with significant free operating cash flow generation, and a very modest dividend payout, were some of the key considerations behind the affirmation.
Views: 2744 SPTVbroadcast
Bail-in Regulations Could Influence Canadian Bank Credit Profiles
 
05:47
The Canadian government recently announced its plan to introduce new "bail-in" regulations designed to help support favorable bank credit and avoid taxpayer-funded bailouts of troubled financial institutions. In this CreditMatters TV segment, Standard & Poor's Managing Director Tom Connell explains how the new regulations could affect credit profiles and ratings across the country's banking sector.
Views: 495 SPTVbroadcast
Riesgos cambiarios para las empresas en América Latina
 
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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: 459 SPTVbroadcast
The Rise of Shadow Banking in Global Project Finance
 
04:38
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: 478 SPTVbroadcast
How Principles-Based Reserving Will Likely Affect U.S. Life Insurers
 
04:02
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: 159 SPTVbroadcast
First Onshore Default Is Landmark Event For China's Bond Market
 
05:14
In this CreditMatters TV segment, Standard & Poor's Managing Directors Ping Chew and Christopher Lee discuss the implications of China's first onshore bond default, both for China corporates and the local bond market, and why the Chinese government is allowing defaults.
Views: 185 SPTVbroadcast
A Closer Look At Turkish Banks' Asset Quality
 
06:37
Following fast credit growth in recent years, heightened domestic political risk, and reverberations of the U.S. Federal Reserve's tapering, Turkish banks' asset quality appears more vulnerable. In this CreditMatters TV segment, Standard & Poor's Magar Kouyoumdjian explains what has contributed to increased risks and the mitigating factors specific to Turkey's banking sector.
Views: 724 SPTVbroadcast
Basel III Offers New Opportunities For Islamic Banks
 
07:23
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: 316 SPTVbroadcast
Derivative Product Companies: What They Are And How They Wo
 
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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: 440 SPTVbroadcast
中国不断发展的碳排放权交易市场将如何影响企业的信用状况
 
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中国计划于2016年试运行全国统一的碳排放权交易市场,这将创造全球最大的碳排放交易体系,并可能对企业信用质量产生深远影响。在本集信用视频中,企业评级董事吕岚将讨论中国的碳排放权交易市场。
Views: 323 SPTVbroadcast