The geopolitical and inflationary backdrop for businesses has got worse as the year has progressed. As expected central bank monetary policy is slowing the rise of inflation which is expected to peak in most G7 countries over the following months. However new risks and strains are emerging. In this webinar from FitchRatings we heard from one of their senior directors on the macro global and European outlook, the main risk factors for corporates and the sectoral implications over the next few years. Elena Stock, Senior Director – Corporate Ratings, and Naresh Aggarwal, Associate Director, Policy & Technical, Association of Corporate Treasurers looked at the looming gas supply crisis and its impact on non-financial corporates and their ratings over the following 18 months.
• which sectors do we expect to be the most impacted and why?
• what assumptions are we making in our base and stress case scenarios?
• is it all bad news? What light is there on the horizon?
Senior Director, Corporate Ratings, Fitch Ratings
Elena is a senior director in the European Consumer & Healthcare team at Fitch Ratings, based in Frankfurt. She currently leads numerous investment and speculative grade ratings across a variety of sectors including pharmaceuticals, healthcare, retail, and previously diversified industrial manufacturing.
Prior to joining Fitch in December 2013, Elena worked for over 15 years on origination and execution of cash-flow-based financings at Societe Generale, Deutsche Bank, EBRD and Commerzbank.
Elena holds a diploma with honours from the Finance Academy of the Government of the Russian Federation.
Associate Director, Policy & Technical, Association of Corporate Treasurers
Naresh has spent 30 years in a variety of treasury roles spanning industry and advisory firms. At PwC he was the UK Lead for Cash Management and Payments where he helped lead the firm’s work on payments, Brexit, treasury controls, Blockchain, operational resilience and target operating model design and implementation. He won an Innovation award for his proposition around mobile payments.
Prior to PwC, Naresh spent almost 20 years in industry across a range of organisations including BP, Heron Property, Cable and Wireless and Fujitsu taking on roles such as analyst, dealer and treasurer.
ACT Webinar: The impact of the gas supply crisis on non-financial corporates, took place on Wednesday 12 October 2022
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