Conversations in European Credit

In this episode, KBRA’s European Macro Strategist Gordon Kerr concludes Conversations in European Credit and highlights the launch of his new KBRA podcast, Credit Compass: Navigating European Credit Markets. The new podcast will serve as a guide for navigating the complexities of European credit and capital markets from a broader macro perspective. It will offer valuable insights and analysis to help investors stay informed and ahead of market trends. Be sure to convert your subscription to the new podcast.

In this episode of Conversations in European Credit, KBRA Head of European Research, Gordon Kerr, speaks with Killian Walsh and Karl Cummins from KBRA’s ABS ratings team about the introduction of a new collateral type to European securitisation markets: solar photovoltaic loans. Their conversation covers a discussion about the KBRA-rated transaction—Enpal’s Golden Ray—and the potential future development of the market. The rating report and research can be found on kbra.com.

In this episode of Conversations in European Credit, KBRA Head of European Research, Gordon Kerr, speaks with Killian Walsh from KBRA’s ABS ratings team. Their discussion highlights the active use of an important bank capital tool: synthetic risk transfer transactions. These products have developed as an active market in Europe but are also a growing tool in the US. The content for the conversation is based on a recently published research report that can be found on kbra.com.

In this episode of Conversations in European Credit, KBRA Head of European Research, Gordon Kerr, speaks with Kali Sirugudi from KBRA’s RMBS ratings team. Their discussion highlights the growing specialist lender market in the UK and the use of securitisation markets for funding. Can the market continue to grow? Kali and Gordon outline the various niches that these lenders have stepped into and the challenges they face to continue to grow. The content for the conversation is based on a recently published research report that can be found on kbra.com. 

In this episode of Conversations in European Credit, KBRA Head of European Research, Gordon Kerr, speaks with Asia Drobnik from KBRA’s financial institutions ratings team. The discussion outlines the current health of the European banking system as banks prepare for the final implementation of Basel IV regulations. The conversation draws on a recently published research on kbra.com.

In this episode, KBRA’s Head of European Research, Gordon Kerr, speaks with colleague Paul De Lange, from the Investor Relations team. The conversation focuses on the strong levels of issuance in the European securitisation market during first-half (1H) 2024, with volumes reaching their highest levels since 1H 2007. To help put the strong performance into perspective, Gordon and Paul cite a recent KBRA research report which showed, among other findings, that transactions sold to investors surged during Q2 and newly circulated transaction volumes broke a post-global financial crisis record.  

In this episode, Gordon Kerr, Head of European Research, speaks with Karim Nassif from KBRA’s project finance and corporate ratings team. The discussion outlines the proposed development of offshore wind in Ireland, which has outlined ambitious plans to deliver 20GW by 2040. The content for the conversation is based on a recently published research report that can be found on kbra.com.  

In this episode, Gordon Kerr, KBRA Head of European Research, speaks with Gabriele Gramazio from KBRA’s Structured Credit ratings team. Gabriele and Gordon discuss the large exposures held within European CLOs and the idiosyncratic risks associated with leveraged loans across the market. The conversation focuses on the content from a recently published research report that can be found on kbra.com.

In this episode, Gordon Kerr, Head of European Research, engages in an interesting conversation moderated by Luigi Griffo from KBRA’s European Investor Relations team. Gordon comments on the recently published results from KBRA’s fifth European Securitisation Survey. The conversation focuses on aggregated investor responses and the resulting views for the direction of the market in the second half of the year. The full research report can be found on kbra.com.

In this special episode of Conversations in European Credit dedicated to macro themes, Ken Egan from KBRA’s Sovereign Ratings team connects with KBRA Head of European Research, Gordon Kerr, to discuss the European labour market—where expectations have changed, where they are going, and their implications. KBRA’s continued mission to help illuminate the many trends taking shape across the markets are highlighted in these special episodes as Gordon and Ken discuss and share insights on the next “big thing” emerging from the sea of opinions. Further details on KBRA’s views may be found on kbra.com.