Credit Conditions

Our regional and global Credit Conditions Committees—and the research publications we produce—provide financial market participants around the world with an essential resource for identifying and understanding prevailing and potential credit risks.

Credit Market Research

Our credit market research encompasses ratings performance indicators (including upgrades and downgrades, defaults, outlook changes, weakest links, rising stars, and fallen angels) alongside default and issuance forecasts and financing conditions coverage.

Economic Research

Our economists are responsible for developing the macroeconomic forecasts and risk scenarios used by S&P Global Ratings' analysts during the ratings process, as well as leading key cross-sector and cross-divisional research projects.

Emerging Markets

Leveraging our expansive credit coverage, S&P Global Ratings’ research analysts and economists provide authoritative, forward-looking insights on the largest and most relevant emerging markets across the globe.

Sustainability Insights

S&P Global Ratings’ sustainability insights aim at advancing the understanding of sustainability topics related to environment, social and governance.

What We're Watching

S&P Global Ratings believes 2023 will begin as a journey through intensifying credit pressures, leading to (if all goes well) more stable financing conditions by year-end.

Confronting Credit Headwinds

In the near term, we expect credit pressures to intensify—with a world order that's increasingly fragmented and fragile.

Reshuffling Capital Flows

With the era of easy money over, investors are rebalancing their portfolios to adjust for shifting risks and returns. Borrowers will need to adapt to the reshuffling of capital flows from long-duration speculative assets to safer havens.

Navigating Geopolitical Uncertainty

As international and domestic flashpoints fuel geopolitical fragmentation, regionally-divergent outcomes on financial markets may result in the reshoring of supply chains or the revamping of business models as global demand patterns change.

Seeking Energy & Climate Resilience

The global economy’s ability to meet its energy needs while making progress toward net-zero reinforces how the conundrum of balancing decarbonization with energy supply security and affordability is one not easily managed.

Managing Cyber & Crypto Disruption

The transformation of global and regional financial systems amid the adoption of new technologies—from artificial intelligence to cryptocurrencies, tokenization, distributed ledgers, and beyond—is accelerating an era of growth, discovery, and risk.

Global Banking Risk Monitor

We are monitoring the credit implications of the ongoing developments within the global banking sector and other potential macro and credit ramifications.

The Future of Banking

Technological disruption leads to new customer expectations, new forms of competition, but also offers new opportunities for banks. All these trends may ultimately impact the credit profile of banking industries across the globe.

Cyber Risk in a New Era

The increasing frequency of cyber attacks and the potential for rapid deterioration in credit profiles after an attack are risk factors that are relevant for our rating assessments.

Leveraged Finance & CLOs Essentials

Investor focus on credit quality leapt to the fore during the pandemic-driven recession. As credit quality begins to show signs of recovery, we offer our forward-looking perspectives on corporate credit and CLOs using data and analytical insights.

China in Transition

China’s economic expansion has been largely driven by debt-fueled investment in the past decade. As growth slows, the country is transiting to another stage of its development. Our series looks at the risks and opportunities of China’s journey.

Global Leverage

Over the past decade, global debt leverage has been trending upward; most recently exacerbated by the COVID crisis. This series examines the “what-ifs” — involving economic, credit quality, and funding trends — of potential downturn scenarios.