Credit Outlook Canada 2024 On-Demand

DBRS Morningstar has examined how major oil & gas companies are responding to contrasting energy transition policies in North America and Europe. Companies are making the shift and keying on developing hydrocarbons responsibly and decarbonizing their activities. Moreover, energy security concerns have reemerged and oil and gas looks to remain an important part of the energy mix for some time. Bearing in mind these factors, in this session our thought leaders will discuss the implications for oil & gas sector credit ratings.

During this session, Nadja Dreff, Senior Vice President, Head of Canadian Insurance will discuss the global insurance industry's performance and outlook in light of higher interest rates and climate change. The session will highlight the key risks and opportunities facing Canadian insurers as they become increasingly more relevant players on the global stage.

In this session, Michael Goldberg, Senior Vice President, Sports Financing will examine the credit implications of some of the recent trends in sports finance: How has private equity investment in sports franchises impacted credit risk? Can Saudi Arabian spending disrupt European football or other sports leagues? What impact will “can’t miss” superstars, Connor Bedard and Victor Wembanyama have on their new teams’ financial profiles?

In this session, Carl De Souza, Senior Vice President, North American Financial Institutions will discuss Canadian banks in a global context, touching on their fundamentals and how they are positioned for growth opportunities moving forward. There will be an overview of their franchise strength, earnings power, risk profile, funding and liquidity, and capitalization. We will also discuss the impact that higher interest rates are having on the banking sector and how banks are approaching climate change.

Join Christopher Tsichlas, Senior Vice President, Corporate Real Estate, as he moderates an informed discussion with three senior real estate finance executives on what they're doing to manage interest rate risk in the current environment. How are rates impacting their strategies? What are they doing to mitigate the impact? How are elevated rates affecting the outlook and credit quality for leading real estate enterprises?

This session will focus on developments in the Canadian securitization market in 2023 including an update on issuance levels in the ABS and ABCP markets. Year to date performance of consumer-backed asset classes will be the focus of the performance update as we examine how Canadian consumers are managing to continue to pay their bills following the unprecedented series of interest rate hikes over the last two years. Panelists Mike Jefferson, CIBC and Prem Williams, TD will discuss their latest initiatives in their bank-sponsored ABCP conduits to provide investors additional confidence in the face of economic headwinds. The session panelists will conclude with an outlook on performance in the consumer-backed asset classes.

Economic performance in 2023 has exceeded expectations, but gathering storm clouds on the horizon point to a more challenging 2024. The economic environment is unlikely to be supportive in the near term. Sovereigns are expected to face additional fiscal challenges as they prioritize increased defense spending, boost climate related investment, and address the needs of aging populations. Meanwhile, geopolitical conflicts loom large, putting energy, food, and supply chain security at risk. Come find out why, in spite of all the doom and gloom, DBRS Morningstar sovereign rating upgrades have matched the number of downgrades in 2023.

This Global Corporates discussion will review our credit opinions on inflation, interest rates, and issuance trends in the Airline, Grocer, Automotive, Middle Market, and Telecom sectors. In addition, we will consider how Artificial Intelligence is redefining the relationship between firms and consumers.

Listen in as Doug Turnbull, Vice Chairman and Country Head, Canada, DBRS Morningstar interviews Scott Hartz.