Outlook on global asset managers downgraded to 'negative' - Moody's

Previous assumptions "no longer tenable"

Moody's has updated its outlook on global asset managers from stable to negative, due to a "broad and growing scope of economic and market upheavals unleashed by the coronavirus".

The report assumed a base case in which the economic and financial market conditions continue to weaken in the first half of 2020, with "some recovery" following in the second half. In the event of a inability to "curtail the pandemic", the report anticipates a "deeper, more prolonged economic slowdown in the US and Europe". Potential delay to LIBOR phase out due to coronavirus - reports Its previous stable outlook was based on "manageable debt burdens, investor appetite for higher risk and higher fee products along with continued, but only slowing global economic growth", assumpti...