& asset managers infrastructure & project finance insurance international public finance islamic finance latin america leveraged finance non bank financial institutions rmbs short term credit markets sovereigns structured finance supranationals us public finance cusip isin ratings search peer analysis tool portfolio fitch canada fitch deutschland fitch espa a fitch france fitch polska fitch t rkiye code of ethics and conduct criteria regulatory affairs release notes understanding credit ratings fitch solutions home fitch connect fundamental financial data ratings & research analytics about fitch solutions contact careers partners fitch group about alumni careers contact events leadership press social the why forum video type 2 characters minimum create new account forgot username password english log in account settings log out searching ... entity ultimate parent obligor analyst location isin cusip fitch expects us high yield bond default rate to decline in 2017 fitch ratings initiated its 2017 default forecast at roughly 3 % based largely on expectations that the economy will continue on its slow growth trajectory no recession and that the bulk of the most severely distressed energy companies already defaulted during the course of 2016 . cheap funding boosts mortgage pfandbrief collateralisation the spread between the income from cover assets and the cost of liabilities for german mortgage pfandbriefe has widened significantly in the past four years but this is not the case for public sector pfandbriefe . fitch ratings launches resi investor tool for rmbs market fitch ratings has launched resi investor a new online tool for structured finance investors that for the first time will enable them to conduct their own model implied rating analysis on underlying loan level portfolios backing rmbs transactions . china s debt for equity swaps face implementation risks the market oriented framework should help to draw in private investment if implemented successfully . however there is a risk that the scheme may be compromised by implicit government influence and a lack of transparency on the relationships between the parties involved . shift in investor behaviour in the european leveraged loan fund market alastair sewell head of fund & asset manager rating group emea & apac discusses the growth in european leveraged loan funds and what this tells us about changing patterns of investor demand in the wider loan market . money funds not taking chances on liquidity as reform looms uncertainty surrounding investor behavior is pushing prime institutional money funds to err on the side of caution when it comes to liquidity as money fund reform comes into effect on oct. 14 2016 according to the latest fitch ratings money fund reform dashboard . resolution plans to bring structural change to us gsibs the updated resolution plans of us global systemically important banks gsibs published earlier this month introduced important structural changes further codifying the structural subordination of bhc creditors . will brexit move the uk asset management industry alastair sewell senior director at fitch ratings discusses the risks from a hard brexit on the asset management industry . he speaks with guy johnson and caroline hyde on bloomberg markets european open . reputation risk bigger than cost impact of samsung recall potential long term brand damage from the recall and production suspension of samsung s galaxy note 7 phone is a greater threat to its credit profile than the direct financial impact which will be buffered by ample liquidity and a strong balance sheet . housing slump tops china as australia s no. 1 credit risk a domestic housing market downturn has replaced the prospect of a china hard landing as the main threat to australia s credit market stability according to fitch ratings latest survey of the country s fixed income investors . china s proposed ride sharing rules may benefit ucar china s proposed new rules on the ride sharing industry may limit the supply of drivers working for consumer to consumer c2c operators which would reduce competitive pressure on businesses that provide car services such as ucar inc. high growth in european loan funds reflects shifting investor base fitch ratings estimates that open ended europe domiciled loan funds have had strong average annual growth of 50 % 60 % albeit from a low base over the last five years . global banking conference 2016 latest earnings and profitability top of mind at global banking conference middling energy prices will keep heat on us energy states pressure will mount on states like alaska and west virginia to diversify their economies beyond the energy sector if energy prices remain range bound into the mid term . content owners best positioned for shifts in media consumption increasingly fragmented audiences resulting from the rise of on demand content continue to disrupt traditional media models presenting both risks and opportunities for media and entertainment companies according to fitch ratings ninth annual credit encylo media report . indonesia s infrastructure drive needs more ppps the indonesian government has bolstered the capacity of state owned enterprises soes to finance projects but soes alone will not be able to deliver on far reaching plans to address the country s infrastructure problems . croatia coalition deal eases near term political risks the agreement by croatia s croatian democratic union hdz and the smaller most party to form a coalition government reduces near term uncertainty and suggests that attempts to reform the economy and reduce debt will continue . greece disbursement shows progress ongoing challenges the additional disbursement of greek bailout funding agreed on monday highlights the improvement in relations with official creditors this year as well as the continuing challenges to programme implementation . reforms aid offshore usd mmf yields ; eur funds challenged us money market fund reforms that take effect from 14 october will help improve diversification and boost yields for us dollar denominated mmfs in europe . this will drive further divergence with euro denominated funds where yields are still negative . headlines view more headlines fitch wire ratings view more ratings about alumni careers contact events leadership press social video the why forum corporate finance emerging markets financial institutions infrastructure insurance public finance sovereigns structured finance code of ethics and conduct criteria regulatory affairs release notes understanding credit ratings fitchratings ipad app inside credit fitch connect fundamental financial data ratings & research analytics about fitch solutions contact careers partners fitchsolutions financial training courses qualifications cfa cqf cisi regulatory training tailored training fitchlearning country risk financial markets industry reports bmiresearch country sites australia brazil canada central america 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