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Summary
Defaults declined by 19% globally in 2025, marking a second year of improvement in corporate credit quality. But what’s really driving these shifts, and what do they mean for your risk strategy?
Join Nick Kraemer, Head of Ratings Performance Analytics at S&P Global Ratings, and thought leaders from S&P Global Market Intelligence as they present the most recent research and data from S&P Global Ratings’ 2025 Default Study.
In this webinar, they will explore the evolving landscape of rating transitions, uncover the latest sector, regional, and ratings trends shaping global default risk, and see how advanced analytics are transforming predictive power and reshaping risk profiles.
Key Takeaways:
- Spot Sector Shifts: Delve into the industries driving defaults and where new risks are emerging.
- Decode Regional Trends: Understand how U.S. and global credit dynamics are evolving.
- Sharpen Ratings Perspectives: Learn how upgrades, downgrades, and rating performance metrics signal credit quality changes.
- Get Actionable Analytics: Walk through platform analytics to get practical insights for better risk management decision making.
Speakers
S&P Global Ratings
Nick Kraemer
Head of Ratings Performance Analytics
Nick Kramer has been with S&P Global for 20 years. For the past 17, he has been a core member of S&P Ratings Credit Research & Insights team. His research focuses on credit market and rating trends, including leading the firm’s default and issuance forecasts. He has initiated and led the team in expanding the firm’s research purview and depth of governance. He operates as the Deputy Chair of the Global Credit Conditions Committee.
Nick’s work has involved deepening cross-functional collaboration within and beyond Ratings, including economists and partners across the organization’s finance, strategy, analytical, and legal groups; S&P Global Market Intelligence, and S&P Dow Jones Indices. He is an active member of multiple Research Labs, covering market liquidity and leveraged finance. In addition, Nick serves as the Chair of S&P Global Rating’s Ratings Performance Governance Council, a cross-functional committee tasked with governance and publication of the firm’s default and transition information for external publication, including regulatory reporting.
S&P Global Market Intelligence
Stewart Webster
Director, Risk & Valuation Services
Stewart Webster is a 13-year veteran at S&P Global and currently serves as a Director on the Credit & Risk Solutions team in the Market Intelligence segment. His focus is quantitative risk models that are driven by big data, machine learning, and climate impact. Stewart uses these models to streamline processes and provide workflow automation for the firm’s global clients.
He was also an Associate on the Leveraged Finance team at S&P Global Ratings. In this credit analysis role, he rated high-yield sponsor-backed companies and Middle Market CLOs. He was lead author for the “Credit Estimates within Middle Market CLOs” quarterly series and produced credit research often cited by financial institutions and government agencies. He joined S&P Capital IQ in 2010 where he managed the North America and MENA Private Equity Research teams.
S&P Global Market Intelligence
Noel Maken
Product Specialist, Risk & Valuation Services
Noel Maken joined S&P Global Market Intelligence in 2022. He is a Credit Product Specialist and works closely with Commercial and Product teams to develop and deliver innovative solutions that empower clients to effectively assess and manage counterparty risk. Leveraging his expertise in credit risk methodologies, data analytics, and technology, Noel helps clients streamline their risk assessment processes and make informed decisions using advanced credit models and cutting-edge technology.
Questions?
Please contact us if you need more information or have trouble accessing the webinar.