All Credit risk and ratings articles – Page 5
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Thought leadershipRegional colour from the PRI's ESG in credit risk analysis forums
The forums that the PRI has organised globally have revealed regional differences on three levels: awareness and advancement of ESG consideration; relative sensitivity to ESG factors by country; and regulatory environment and attitudes towards it.
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Thought leadership
Rounding off phase one of the PRI's ESG in Credit Ratings Initiative
This report rounds off phase one of the PRI’s ESG in Credit Ratings Initiative, which has served as an important stimulus for investors and CRAs to sharpen their focus on ESG factors. The progress that it has made in a very short time frame – particularly by the large CRAs ...
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Thought leadership
Improving the transparent and systematic consideration of ESG factors in credit risk analysis
The PRI has compiled a list of more detailed emerging solutions that have been discussed during the investor-CRA roundtables, aimed at improving the transparent and systematic consideration of ESG factors in credit risk analysis.
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Thought leadership
Turning CRA-investor disconnects into action areas
The investor-CRA roundtable discussions revealed that there is broad consensus that ESG factors are not new to credit risk analysis, and that governance is the most important of the three categories when assessing default risk.
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Thought leadership
Fostering dialogue between credit rating agencies and investors
This report rounds off a series of three as part of the PRI’s ESG in Credit Ratings Initiative, which started with the launch of the ESG in Credit Ratings Statement in May 2016.
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Thought leadership
ESG, credit risk and ratings: part 3 - from disconnects to action areas
Credit risk analysis is evolving. Although the basic tenet of assessing whether an issuer can pay back its obligations on time and in full still holds, the global fixed income (FI) community is increasingly seeking ways to factor in sustainability considerations when allocating capital and managing risks.
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Webinar
ESG in credit risk analysis: part 2 - exploring the disconnects
Credit rating agency and investor representatives, including Hermes IM, Moody’s Investors Service, Neuberger Berman, Öhman and Pendal Group, discuss the disconnects between investors and credit rating agencies.
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News and press
The PRI publishes its second report on ESG in credit risk analysis and ratings
The Principles for Responsible Investment (PRI) has today launched a new report, Shifting perceptions: ESG, credit risk and ratings – part 2: exploring the disconnects, examining the gaps between investors and credit ratings agencies (CRAs) highlighted in its seminal work, Shifting perceptions: ESG, credit risk and ratings – part 1: ...
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Case study
Credit risk case study: Coca Cola Amatil
Case study by Pendal Group (formerly BT Investment Management)
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Case study
Credit risk case study: an emerging market quasi-sovereign issuer
Case study by Neuberger Berman
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Case study
Credit risk case study: a Canadian mortgage lender
Case study by Manulife Asset Management
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Case study
Evidence of credit rating agencies intensifying ESG focus
Below are some examples that provide evidence of how ESG factors are gradually becoming more prominent in CRA rating commentaries or relevant in contributing to rating opinions, clarifying methodologies and in sector research.
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Thought leadership
ESG in credit ratings: lessons from the automotive sector
The PRI’s forum on ESG in credit ratings that took place in Frankfurt focused on the automotive sector.
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Thought leadership
The ESG in Credit Ratings Initiative: looking ahead
While it is still too early to identify solutions to the problems frequently encountered by investors and CRAs when incorporating ESG factors in credit risk analysis, there are ripe opportunities for further work.
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Thought leadership
Investor-CRA disconnect 4: communication and transparency
An overview of the PRI’s observations on the investor-CRA disconnect related to communication and transparency.
