Moody’s Talks – The Big Picture

Hosted by William Foster, Gabriel Agostini, Paloma San Valentin

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Jun 2026

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On Moody’s Talks – The Big Picture, hosts William Foster, Paloma San Valentin and Gabriel Agostini bring you insights from Moody’s analysts around the world on hot topics across fixed-income markets. Each episode will illuminate Moody’s thinking on the latest credit and economic developments, ranging from technological disruption, political shifts, to climate change. Please join us as we explore what’s on the horizon for the global credit landscape.

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June 8, 202616 min

How China’s Global Bet is Raising the Stakes

Faced with slowing domestic growth and rising geopolitical tensions, China is changing its export strategy and selling different things, to different customers, in different places. Electric vehicles, solar panels and AI-enabled services are replacing low-cost manufactured goods. And the destination? Increasingly, emerging markets in Southeast Asia, Latin America and beyond. China's evolving overseas footprint will have far-reaching credit consequences. From autos in Europe to metals in Latin America and clean energy infrastructure in Asia, this is a global story with local credit impact. The looming question remains: who can adapt and who will buckle under the sustained pressure? Host: Matt Robinson, Associate Managing Director, Moody’s Ratings Guest: Nick Hill, Global Head of Credit Strategy and Guidance, Moody’s Ratings Related Research: Macroeconomics – China: Overseas investment will accelerate, with focus on select sectors and destinations 30 June 2025 Trade – Asia-Pacific: US focus on origin of imports increases risks for Asia-Pacific supply chains 20 October 2025 Geopolitical risks and China’s excess capacity expose ASEAN economies’ vulnerabilities 2 July 2025 Moody’s Insights – China Growth and Credit  © 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

May 4, 202628 min

Emerging Markets and Global Shocks: Why Credit Outcomes Are Uneven

Emerging markets have weathered a string of global shocks since 2019 with more resilience than in past cycles, supported by stronger policy frameworks, deeper local markets and larger buffers. We discuss why credit outcomes are increasingly uneven across EMs, how a more fragmented global economy is reshaping trade and financing, and why investors are focusing on country-by-country differentiation. Looking ahead, we explore what could test that resilience next, including high interest rates, debt-affordability pressures and the policy choices that will separate stronger credits from weaker ones. Host: William Foster, Senior Vice President, Sovereign Risk, Moody's Ratings Guests: Atsi Sheth, Chief Credit Officer, Moody’s Ratings; Ariane Ortiz-Bollin, Associate Managing Director, Sovereign Risk, Moody's Ratings Related Research: Financial policy is key differentiator of credit quality amid global shocks, 07 May 2026 Low-rated sovereigns' credit quality is recovering but is weaker than a decade ago, 06 May 2026 Early policy reform and strong buffers support resilience to global shocks, 05 May 2026 Middle East Conflict – India: Energy shock fuels external, inflationary and sectoral risks, 20 April 2026 Corporates – Indonesia: Policy uncertainty will constrain credit strength as regulatory intervention rises, 16 April 2026 Sovereigns – Global: Middle East shock will test sovereigns with limited credit buffers, 7 April 2026 Sub-Saharan African Macro Monitor: Financing needs will remain broadly stable in 2026, 31 March 2026  © 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

April 27, 202633 min

Why Private Credit’s Volatility Won’t Stop Growth

The private credit market has morphed into a powerhouse, deriving its allure from low volatility, stable and high predictable returns. But less than a year after the so-called “golden age” of private credit, the asset class is now grappling with a period of uncertainty following its astronomical growth. That volatility includes a wave of redemptions – when investors go to credit funds and ask for their money back — on top of disruption from AI and calls for more transparency. The wildcard of retail investors also raises the stakes. In this episode, we discuss the negative outlook for perpetual non-traded BDCs (Business Development Companies), the impact from the Middle East conflict, exposure for the software sector, and what regulators might do next. Host: Gabriel Agostini, Assistant Vice President, Credit Strategy and Research, Moody’s Ratings Guests: Marc Pinto, Global Head of Private Credit, Moody’s Ratings; Atsi Sheth, Chief Credit Officer, Moody’s Ratings Related Research: Private Credit – Global Volatility will intensify focus on liquidity, transparency 22 April 2026 Business Development Companies – US – Outlook changes to negative on increased redemption pressures, higher leverage 7 April 2026 Private Credit – North America – Credit Estimates point to eroding credit quality among middle-market borrowers 13 April 2026 Banks – US – Aggregate loan exposure to non-depository financial institutions rises to $1.4 trillion 31 March 2026 Moody’s Private Credit Insights  © 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

April 2, 202611 min

Why Netflix is Still a Winner After Bidding War with Paramount

Streaming giant Netflix withdrew its bid for Warner Brothers Discovery on the eve of this year’s Oscars, but it doesn’t mean Paramount has won the battle for dominance over the media landscape. Regulators still must approve the deal, and Paramount’s offer comes with huge debt. In this first episode of Credit Currents, a new video podcast series from Moody’s Ratings, we reveal the stakes at play for traditional film and TV studios, the exponential value of intellectual property (IP), and how massive acquisitions can create credit risk. We also consider the potentially significant impact of AI on viewing habits and customer preferences. Host: Patrick Ronk, Vice President, Senior Analyst, Moody’s Ratings Guest: Emile El Nems, Vice President, Senior Credit Officer, Moody’s Ratings Related Research: Media, Telecommunications – US – Media's significant consolidation, streaming shift continue; more telecom competition 2 Feb 2026 Corporates | Media & Publishing - Netflix, Inc. - Credit Opinion – Update to credit analysis following affirmation and changing outlook to stable 29 Dec 2025 Media & Publishing – US – Large streamers thriving amid intense competition, smaller streamers at risk 16 April 2025 © 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video.  © 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

April 2, 20260 min

Introducing: Credit Currents, a new Moody's Ratings video podcast

Streaming giant Netflix withdrew its bid for Warner Brothers Discovery on the eve of this year’s Oscars, but it doesn’t mean Paramount has won the battle for dominance over the media landscape. Regulators still must approve the deal, and Paramount’s offer comes with huge debt. In the first episode of Credit Currents, a new video podcast series from Moody’s Ratings launching on April 2, 2026, we reveal the stakes at play for traditional film and TV studios, the exponential value of intellectual property (IP), and how massive acquisitions can create credit risk. We also consider the potentially significant impact of AI on viewing habits and customer preferences. Host: Patrick Ronk, Vice President, Senior Analyst, Moody’s Ratings Guest: Emile El Nems, Vice President, Senior Credit Officer, Moody’s Ratings © 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video.  © 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

March 25, 202616 min

US Tariffs Under IEEPA Struck Down: What’s Next for Credit

The US Supreme Court's rejection of the raft of US tariffs imposed in 2025 under the International Emergency Economic Powers Act (IEEPA) offers near-term relief for some exporters, but some sectors may still be in the crosshairs. We discuss the prospect of refunds, the durability of restrictive trade frameworks, and how the US administration will likely tap other legal means to achieve its trade agenda. This comes amid upheaval from the Middle East conflict which is rippling across sectors and deepening the uncertainty. Host: William Foster, Senior Vice President, Sovereign Risk, Moody's Ratings Guests: Atsi Sheth, Chief Credit Officer, Moody’s Ratings Related Research: Tariffs – Global – Trade deal commitments and new tariffs diminish effects of IEEPA ruling 3 March 2026 Tariffs – US – FAQ: Trade uncertainty will persist after Supreme Court rules on IEEPA tariffs 19 Feb 2026 Government Policy – US – Midterm dynamics and 'America First' agenda to shape credit in 2026 19 Feb 2026 Moody’s Tariff Tracker © 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this episode.  © 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

February 25, 202616 min

AI, the Future of Work, and the Risks for Governments

What happens when technology starts automating and augmenting the cognitive tasks that form the backbone of many professions? The stakes are high: companies are reorganizing, workers are anxious, and major investors are pouring billions into models, chips and data centers. Meanwhile, governments face important decisions on how to minimize social disruption from AI, while maximizing economic gains. Explore which jobs are most exposed, what factors could boost productivity gains, and the steps governments are taking to manage the transition: https://www.moodys.com/ai-insights Host: Gabriel Agostini, Assistant Vice President, Credit Strategy and Research, Moody’s Ratings Guests: Ana Rayes, Vice President, Senior Analyst, Moody’s Ratings; Elisa Parisi-Capone, Vice President, Senior Analyst, Moody’s Ratings Related Research: Artificial Intelligence – Global – AI productivity gains to hinge on demographics and occupational structures 23 Feb 2026 Artificial Intelligence – Global – AI will reshape the nature of labor, with varying social risks across economies 24 Feb 2026 © 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video.  © 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

January 14, 202615 min

Outlooks 2026: How Costly Natural Disasters Reshape Credit Risk

Climate-driven shocks are rippling across sectors, from rising insurance premiums to lower property prices and tax revenue. With the costs of severe weather rising, Moody’s experts share their insights into key themes and possible solutions. Learn more at https://www.moodys.com/outlooks Explore our outlook: https://www.moodys.com/web/en/us/insights/credit-risk/outlooks/global-sustainable-finance.html Want to know more on the sustainable finance trends in 2026? Join us:EMEA/US: https://events.moodys.com/2026-mie26362-sustainable-finance-outlook-emea-usaAPAC: https://events.moodys.com/2026-mip26493-sustainable-finance-outlook-apac Host: Chandra Ghosal, Vice President, Senior Credit Officer, Moody’s Ratings Guests: Jennifer Chang, Vice President, Senior Credit Officer, Moody’s Ratings; Sarah Hibler, Associate Managing Director, Moody’s Ratings Related Research: Sustainable Finance – Global – 2026 Outlook – Transition shifts, extreme weather and AI boom drive credit risks 13 Jan 2026Emerging economies are most exposed to the credit effects of severe weather 30 Oct 2025US Public Finance – Florida – Miami Cat-5 storm would test economy and insurance market even with federal aid 24 Sep 2025Environmental Risk – Global – Adaptation can support credit strength, but faces race to keep up with climate risks 22 Sept 2025Property & Casualty – US – California wildfires — one year later, insurers have absorbed losses 14 Jan 2026 © 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video.  © 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

January 8, 202621 min

Outlooks 2026: How New Digital Systems Will Transform Credit Markets

New and emerging digital technologies are connecting previously siloed areas of finance. The convergence of traditional finance with digital assets, the rapid evolution of blockchain and AI, and the growing influence of cyber risks across sectors will create both challenges and opportunities. In this episode, we speak with Moody’s experts to understand the risks, innovations, and financing needs shaping global financial markets. Learn more at https://www.moodys.com/outlooks Host: William Foster, Senior Vice President, Sovereign Risk, Moody's Ratings Guests: Fabian Astic, Managing Director, Global Head of Digital Economy, Moody’s Ratings; Lesley Ritter, Senior Vice President, Cyber Credit Risk, Moody’s Ratings Related Research: Cyber Risk – Global -- 2026 Outlook - Cyber threats will intensify as AI tools proliferate 8 Jan 2026Digital Economy – Global – 2026 Outlook - Digital finance links diverse market segments, raising efficiency, risks 05 Jan 2026Digital Transformation – Global – Digitalization reshapes private credit, emerging markets, transition finance 01 Dec 2025Cyber Risk – Global - Weak artificial intelligence governance practices pose growing risk of data breaches 01 Oct 2025 © 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video.  © 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

December 11, 202520 min

Outlooks 2026: How AI and Digital Disruption is Affecting Credit

AI is fueling a boom in data centers, and the world’s biggest hyperscalers are pouring billions into building up their capacity. But risks of an AI bubble and circular deals involving companies like OpenAI and Microsoft are worrying investors. Learn more about data center growth in 2026 and other sector outlooks: moodys.com/outlooks Host: Paloma San Valentin, Managing Director, North America Corporate Finance, Moody’s Ratings Guests: John Medina, Senior Vice President, Moody's Ratings; Raj Joshi, Senior Vice President, Moody’s Ratings Related Research: Artificial Intelligence – Global - 2026 Outlook - Risks are rising in a shifting AI landscape 08 Dec 2025Artificial Intelligence - Global - OpenAI's huge footprint is a risk for the AI value chain 05 Dec 2025Data Centers – US - Broadening array of financing approaches attract new capital as data centers scale up 03 Dec 2025  © 2026 Moody’s Corporation and/or its licensors and affiliates. All rights reserved. Go to www.moodys.com/pages/globaldisclaimer.aspx for complete legal terms and conditions governing use of Moody’s information made available in this video. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.