Following the announcement of the G20 Debt Service Suspension Initiative (DSSI), there have been many calls on private creditors—from the G20, the IMF/World Bank and Paris Club and civil society—to participate in the initiative “on comparable terms” to official creditors.  This raises significant questions about the credit implications of private sector participation—in particular, whether in-scope countries can achieve suspension or payment deferral without triggering negative rating actions on country and bond ratings. This could constrain future market access for borrowing countries; potential spillovers could include cross-defaults and contagion.

This webinar, hosted on May 7th, featured:

• James McCormack, MD, Global Head of Sovereign and Supranational Ratings, Fitch Ratings
• Alastair Wilson, MD, Head of Sovereign and Sub-Sovereign Ratings, Moody's Investors Service