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Moody’s Warns of a Ratings Risk for Companies in the Retail, Hotel and Office Sectors

The agency forecasts that companies in Europe will suffer an increase in arrears until 2022, with those in Spain experiencing the second-largest impact, behind Italy, with a ratio of 5%.

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Moody’s has warned of an increase in risk in the Spanish real estate market due to the economic and health effects of the Covid-19 pandemic, and specifically of possible downgrades in the ratings assigned to companies in the retail, tourism and office sectors.

Nevertheless, during a virtual meeting, the firm’s directors were keen to emphasise that the third wave (of the virus) is having fewer negative effects than last year’s lockdown. In fact, Carlos Winzer, Senior Vice President of Corporate Finance at Moody’s, specified that he does not expect a ‘wave’ of ratings changes as a result of the current sanitary restrictions.

Read the full article in Spanish.

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