Moody's Ratings

Private credit in Latin America is in its early stages but is expanding rapidly, especially in infrastructure financing because of limited public funding and banking retrenchment. Read our report to learn more: https://mdy.link/4hjFu9Z

Cities facing heightened exposure to physical risks are increasingly prioritizing efforts to finance adaptation projects that strengthen urban resilience. Our latest Second Party Opinion on the Tokyo Metropolitan Government’s resilience bonds framework evaluates its alignment with market standards and expected contribution to sustainability. Read our full Second Party Opinion: https://mdy.link/4qcV8I8

We are proud to be named Best Rating Agency in Islamic Finance at the IFN Service Providers Awards 2025, recognizing our expertise and engagement in the Islamic finance markets. As we celebrate this achievement, we are inspired to continue our commitment to serving our clients and the market with excellence. Learn more about our award wins here: https://mdy.link/4qehZDh

Thanks to everyone who joined our London Banking Conference this month to explore how UK banks are navigating today’s volatile environment. The online replay is now available with highlights covering the key issues from geopolitics and regulations to motor finance and bank capital. Featuring insights from Creon Butler (Chatham House), Adrian Docherty (BNP Paribas), Chris Howland (Deutsche Bank), and Moody’s credit analysts. View the replay here: https://mdy.link/3Wd7D8T

What’s driving the shift from esoteric assets to mainstream infrastructure credit? From structural features and tenant risk to capex exposure and investor appetite—these rapidly scaling asset classes are redefining securitization as a vital funding tool. Join Karen Ramallo at ABS East as she explores the next frontier of data centers.

What’s driving the structured finance market today, and tomorrow? From macro volatility and policy shockwaves to shifting issuance trends and liquidity dynamics—today’s structured finance market is anything but predictable. Join Navneet Agarwal, CFA and fellow market analysts at ABS East as they decode the forces reshaping the landscape: • Fed policy, inflation, and stagflation risk • Issuance volumes, pricing, and spread behavior • Credit performance and relative value across asset classes

Thanks to everyone who joined Moody’s Summit 2025 on Saudi Arabia this month in Riyadh. We enjoyed hearing your views and exchanging insights on the forces shaping capital flows and economic transformation in the Kingdom. We’re already looking forward to next year’s event! See more from Moody’s: https://mdy.link/3IOg4Vb Public Investment Fund (PIF)

Moody’s Ratings interviewed Société Générale on how tokenization is reshaping finance—from streamlining collateral flows to enabling stablecoin adoption. While the innovation offers efficiency gains, it still depends on regulatory clarity and the continued role of key intermediaries. Read the full Q&A here: https://mdy.link/42CJxIq

As private credit continues to rapidly evolve, Marc Robert Pinto, CFA will join a panel discussion at PCC East, offering timely insights into the risks, resilience, and opportunities shaping the next chapter. Key questions on the agenda: • Are we still in the ‘golden age’ of private credit? • How will the market respond to a default cycle? • What should investors watch for in 2026 and beyond? We hope to see you there.

Here are the top highlights for this week’s Moody’s Credit Outlook: • AMD 's partnership with OpenAI supports its data center GPU demand and boosts revenue outlook • Novo Nordisk 's liver drug acquisition modestly increases leverage and reduces M&A headroom • UK lenders face substantial motor finance-related payouts under FCA's proposed redress scheme View more in-depth featured news and analysis: https://mdy.link/4oDg5dV