Credit Outlook 2024

The 2024 #CreditOutlook has improved since December 2023, driven by better economic growth forecasts, particularly in the US and EM ex. China. Fitch Ratings' sector outlooks show more 'neutral' and 'improving' ratings, with fewer 'deteriorating' ones. Investment-grade outlooks are solid, though sub-investment grade remains biased towards the negative. Learn More https://ow.ly/QBzf50SC6oS

Global #sovereign conditions are neutral entering 2024, as slightly weaker global economic growth and persistent strains on fiscal positions are balanced by improvements in inflation dynamics and forecast reductions in central bank policy rates. Learn More: https://lnkd.in/ddvsk85D #FitchRatings #FitchOutlooks2024 #CreditOutlook

Elevated interest rates and the prospects of a broader economic slowdown will lead to weaker credit performance for business development companies (BDCs) in 2024. BDCs are well-positioned to navigate challenging sector dynamics in 2024. That said, Fitch is maintaining its ‘deteriorating’ sector outlook for BDCs as elevated interest rates are expected to weaken asset quality. Learn more in our #CreditOutlook report: https://ow.ly/NZNU50QbGBg Join our BDC conference tomorrow from 1:00-4:30 pm via livestream to learn more about what's ahead for the industry: https://ow.ly/LPmB50QbGFG #FitchRatings #FitchOutlooks2024 #NonBanks #PrivateCredit

Though easing #supplychain constraints has helped reduce inflationary pressure, #inflation remains the most significant variable to watch for in global #credit markets. Find out more in our 2024 #CreditOutlook series: https://ow.ly/c6wU50Q5Y49 #FitchOutlooks2024

Fitch Ratings expects Chinese property developers’ operating environment to remain challenging in 2024, but gradual stabilisation in the higher-tier cities - supported by government policies - may pave the way for a longer-term recovery.   Read the full #CreditOutlook: https://lnkd.in/gw8pAJWR   #FitchOutlook2024 #asiapacific #china #property

In this two-part discussion, Fitch’s leveraged finance team will discuss their 2024 sector outlook including views on defaults, recoveries and credit performance, then Fitch and Covenant Review will provide their views on what to watch for in 2024 in deal and documentation trends. Join us for the webinar on Dec 12 at 12PM EST. Speakers: Joshua Clark - Director, Leveraged Finance, Corporates Fitch Ratings Justin Forlenza - Managing Director, Senior Covenant Analyst Covenant Review Judah Gross - Senior Director, Leveraged Finance Fitch Ratings Elizabeth Han - Senior Director, Head of Default Research Fitch Ratings Lyuba Petrova - Managing Director & Head of U.S. Leveraged Finance Fitch Ratings Jessica Reiss - Managing Director & Head of U.S. Leveraged Loan Research Covenant Review Register now: https://ow.ly/9Rwq50QcGPO #FitchOutlooks2024 #CreditOutlook #LevFin

Please join us for a virtual panel discussion with our North American Homebuilding and Building Products team on December 11th at 11:00am EST. This event will offer investment professionals a unique opportunity to hear our 2024 outlook and themes impacting various segments of the Homebuilding and Building Products sector. Our team will be discussing topics including: • U.S. housing market to remain challenged in 2024 as persistent affordability issues and a weak economic environment constrain demand. • Private new construction and repair and remodel activity to underperform while public construction spending continues to grow. • Tight credit markets and high interest rates, combined with buyers’ strong liquidity positions, likely to spur increased M&A activity. • Meaningful rating headroom for U.S. homebuilders and ample headroom for most building products and materials companies. Register now: https://ow.ly/HQVq50QfhyU #CreditOutlook #FitchOutlooks2024 #Homebuilding

Fitch Ratings has revised its Sector Outlook for Canadian banks to neutral from deteriorating following the sector’s acclimation to the ‘higher for longer’ interest rate environment. While economic growth is set to slow, unemployment is still below pre-pandemic levels. Learn more in our #CreditOutlook report: https://ow.ly/GMuC50QfxAS #FitchRatings #FitchOutlooks2024 #Banks

Join Fitch Ratings on January 11 at 9 am EST for a #CreditOutlook webinar on Cross-Sector Cross-Currents: a panel on what to expect for financial institutions in the new year. The discussion will be moderated by Julie Solar, Group Credit Officer, Financial Institutions, and will feature panelists Doriana Gamboa, Head of North American #Insurance, Meghan Neenan, Head of North America #NonBanks, and Chris Wolfe, Managing Director for North American #Banks. Register and learn more here: https://ow.ly/TLyY50QesT0 #FitchRatings #FitchOutlooks2024

#FitchRatings’ 2024 asset performance outlook for most #structuredfinance (SF) sectors is deteriorating as monetary and credit tightening continue to weigh on consumer demand and remain the primary risk drivers. High core inflation and rising unemployment will lead to real income erosion and higher debt burdens, further pressuring on households and businesses. Learn More: https://ow.ly/qtQf50Qg0a3