
Credit Trends - Spain
¿Qué significan las Perspectivas Crediticias de Moody's para usted?
Explore con nosotros las secuelas de la pandemia.
Descubra qué esperan los expertos del mercado, cuáles sectores se han recuperado, cuáles sectores se transformarán y cuáles llevarán las cicatrices más profundas de la recesión.
El evento se llevará a cabo en español.
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Agenda keyboard_arrow_down
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09:00
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09:05
Tendencias macro y regionales que influyen en España
- Consecuencias de la pandemia de coronavirus para el crecimiento a largo plazo de España
- Mayores cargas de deuda en un entorno de bajas tasas de interés – identificación de los factores negativos y positivos para la fortaleza crediticia de España
- Siguiente generación de la UE: ¿Cuál será el Impacto a largo plazo en la UE? Aprovechará España esta oportunidad única de esta generación?
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09:25
Entrevista inaugural con Juan Ramón Rallo
Entrevista con Juan Pablo Soriano
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10:05
Presentación: La desaceleración crediticia será moderada y de corta duración
- Impacto de la crisis en los incumplimientos y desempeño de las calificaciones
- Efectos en la cartera
- Transición de calificaciones locales
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10:20
Secuelas crediticias de largo plazo para España tras la pandemia
- La recuperación variará para cada sector: los más afectados versus los mejor posicionados. El futuro del sector inmobiliario cuando la pandemia disminuya
- Fortaleza del sector bancario cuando disminuya la pandemia y su impacto en los soberanos, empresas y bonos garantizados
- Riesgos ESG: Comparación de la puntuación ESG soberana de España con la de otros soberanos
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11:00
Cierre del evento
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Speakers keyboard_arrow_down
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Juan Pablo Soriano joined Moody’s Investors Service in London in 1994. He is currently based in Madrid as Managing Director of EMEA Covered Bonds and global Covered Bond coordinator. He is also the country manager for Spain and Portugal. Prior to joining Moody’s, Mr Soriano had various responsibilities first at a Stock Broker Agency and then in the New York branch of the Banco Central Hispanoamericano back in 1988, holding diverse positions as Money Market Manager, Assistant Vice President in the Loan & Investment Department and Vice President in the Trade Finance Department. In 1993 he was transferred to Madrid as Vice-President of the Fixed Income Department. Mr Soriano is a graduate in Law by the Universidad Complutense of Madrid, Spain, and holds an MBA in Finance by the Leonard Stern School of Business (NYU). |

Olivier Chemla is a Vice President – Senior Analyst in Moody’s Sovereign Risk Group. Based in Frankfurt, he is the lead analyst for a portfolio of European sovereigns and multilateral institutions. Prior to joining Moody’s in 2018, Olivier served as Chief economist in the French business association for large companies (Afep) for six years. Olivier started his career in the French public administration, holding various positions in the French department for Labour, Health and Economics. He was appointed Special Adviser to the Minister for the Budget, Public accounts and the State reform in the summer of 2011. |

Juan Ramón Rallo es doctor en Economía y licenciado en Derecho. Actualmente es profesor de Economía en la Universidad Francisco Marroquín, en el centro de estudios OMMA, en la IE University y en la IE Business School. Es analista económico de esRadio, La Sexta Noche, Al Rojo Vivo o Espejo Público. Colabora habitualmente en prensa con El Confidencial y La Razón. Ha escrito los siguientes libros: Una crisis y cinco errores y El liberalismo no es pecado (junto a Carlos Rodríguez Braun), Los errores de la vieja Economía, Una alternativa liberal para salir de la crisis, Una revolución liberal para España, Contra la renta básica, La pizarra de Juan Ramón Rallo y Contra la Teoría Monetaria Moderna. |

Juan Pablo Soriano joined Moody’s Investors Service in London in 1994. He is currently based in Madrid as Managing Director of EMEA Covered Bonds and global Covered Bond coordinator. He is also the country manager for Spain and Portugal. Prior to joining Moody’s, Mr Soriano had various responsibilities first at a Stock Broker Agency and then in the New York branch of the Banco Central Hispanoamericano back in 1988, holding diverse positions as Money Market Manager, Assistant Vice President in the Loan & Investment Department and Vice President in the Trade Finance Department. In 1993 he was transferred to Madrid as Vice-President of the Fixed Income Department. Mr Soriano is a graduate in Law by the Universidad Complutense of Madrid, Spain, and holds an MBA in Finance by the Leonard Stern School of Business (NYU). |

Jorge Rodriguez-Valez is a Vice President – Senior Credit Officer in Moody’s Credit Strategy & Research team in London. Since he joined Moody’s in 2014, he leads the Financial Analytics team, developing quantitative forward-looking analyses of sectors and institutions, including modelling asset quality trends and stress testing.
Prior to joining Moody’s in 2014, Jorge worked as a macroeconomist responsible for forecasting and scenario analysis, and as a university lecturer in macroeconomics and econometrics.
Jorge is a PhD in Econometrics and holds degrees in Economics and in Business.

Laura Perez Martinez is Moody’s Chief Credit Officer in the EU, and an Associate Managing Director in the Credit Strategy team. In her CCO role, Laura is responsible for identifying and analysing the broad macro and credit trends, and leading and coordinating Moody’s ratings approach, across franchises in the region. Laura joined Moody’s in 2008 in London, where she worked as a senior credit analyst, covering leading European financial institutions. She relocated to Madrid in September 2016 to join the corporate finance team. Before joining Moody’s, Laura worked for AM Best covering European insurers. Laura holds a B.A. in Business Administration from University of Oviedo in Spain, and is a Chartered Financial Analyst (CFA). |

Olivier Chemla is a Vice President – Senior Analyst in Moody’s Sovereign Risk Group. Based in Frankfurt, he is the lead analyst for a portfolio of European sovereigns and multilateral institutions. Prior to joining Moody’s in 2018, Olivier served as Chief economist in the French business association for large companies (Afep) for six years. Olivier started his career in the French public administration, holding various positions in the French department for Labour, Health and Economics. He was appointed Special Adviser to the Minister for the Budget, Public accounts and the State reform in the summer of 2011. |

Maria Cabanyes is a Senior Vice President and the Team Coordinator in the EMEA Financial Institutions Group for Spain and Portugal, in addition to which she is lead analyst for the larger financial institutions in Spain.
Ms Cabanyes joined Moody’s London-based banking team in December 1992, since when she has followed banks as lead analyst, as well as in Spain, in the Nordic region, Portugal and in Latin America. Ms Cabanyes has also served as Regional Credit Officer Moody’s Banking and Finance rating teams in EMEA for ensuring compliance with existing rating methodologies, supporting the development and implementation of analytical initiatives as well as facilitating global rating consistency.
Prior to joining Moody’s in 1992, Ms Cabanyes was an equity analyst at Iberagentes (Spain). Ms Cabanyes has a Bachelor Degree in Business Administration and MSc in Finance from Colegio Universitario de Estudios Financieros (CUNEF) Madrid.

José de León is Senior Vice President – Manager with Moody’s EMEA covered bond group. He leads a team of credit analysts located across various European offices and coordinates covered bonds ratings in the Asia Pacific region. During his tenure at Moody’s, he has played a key role implementing and adjusting the Moody’s covered bond methodology to different asset classes and jurisdictions across Europe. He joined Moody’s in 2003 as an RMBS/ABS analyst. Before joining Moody’s, he worked in the structuring as well as trading of ABS, and as exotic equity derivative controller. José graduated from the Universidad Complutense (Madrid) with a degree in economics and in finance from Frankfurt School of Finance and Management (HfB). He also holds the certificate in quantitative finance (CQF). |

Carlos Winzer is a Senior Vice President at Moody’s Investors Service where he heads up the European telecommunications team in the Corporate Finance Group. Mr. Winzer joined Moody´s New York in 1992. After spending two years at Moody’s office in NY and eight years in London, he relocated to the Madrid office in 2002. He joined Moody’s from Citibank NA, where he was Corporate Bank Risk Manager and Relationship Officer in Corporate Finance. Mr. Winzer holds a graduate degree in economics and business administration from CUNEF (Colegio Universitario de Estudios Financieros in Madrid). In addition, he holds a postgraduate degree in business administration from Guildhall University in London. Mr. Winzer is a professor at ICADE business school and IEB MBA program in Madrid.

Olivier Chemla is a Vice President – Senior Analyst in Moody’s Sovereign Risk Group. Based in Frankfurt, he is the lead analyst for a portfolio of European sovereigns and multilateral institutions. Prior to joining Moody’s in 2018, Olivier served as Chief economist in the French business association for large companies (Afep) for six years. Olivier started his career in the French public administration, holding various positions in the French department for Labour, Health and Economics. He was appointed Special Adviser to the Minister for the Budget, Public accounts and the State reform in the summer of 2011. |

Juan Ramón Rallo es doctor en Economía y licenciado en Derecho. Actualmente es profesor de Economía en la Universidad Francisco Marroquín, en el centro de estudios OMMA, en la IE University y en la IE Business School. Es analista económico de esRadio, La Sexta Noche, Al Rojo Vivo o Espejo Público. Colabora habitualmente en prensa con El Confidencial y La Razón. Ha escrito los siguientes libros: Una crisis y cinco errores y El liberalismo no es pecado (junto a Carlos Rodríguez Braun), Los errores de la vieja Economía, Una alternativa liberal para salir de la crisis, Una revolución liberal para España, Contra la renta básica, La pizarra de Juan Ramón Rallo y Contra la Teoría Monetaria Moderna. |

Juan Pablo Soriano joined Moody’s Investors Service in London in 1994. He is currently based in Madrid as Managing Director of EMEA Covered Bonds and global Covered Bond coordinator. He is also the country manager for Spain and Portugal. Prior to joining Moody’s, Mr Soriano had various responsibilities first at a Stock Broker Agency and then in the New York branch of the Banco Central Hispanoamericano back in 1988, holding diverse positions as Money Market Manager, Assistant Vice President in the Loan & Investment Department and Vice President in the Trade Finance Department. In 1993 he was transferred to Madrid as Vice-President of the Fixed Income Department. Mr Soriano is a graduate in Law by the Universidad Complutense of Madrid, Spain, and holds an MBA in Finance by the Leonard Stern School of Business (NYU). |

Jorge Rodriguez-Valez is a Vice President – Senior Credit Officer in Moody’s Credit Strategy & Research team in London. Since he joined Moody’s in 2014, he leads the Financial Analytics team, developing quantitative forward-looking analyses of sectors and institutions, including modelling asset quality trends and stress testing.
Prior to joining Moody’s in 2014, Jorge worked as a macroeconomist responsible for forecasting and scenario analysis, and as a university lecturer in macroeconomics and econometrics.
Jorge is a PhD in Econometrics and holds degrees in Economics and in Business.

Laura Perez Martinez is Moody’s Chief Credit Officer in the EU, and an Associate Managing Director in the Credit Strategy team. In her CCO role, Laura is responsible for identifying and analysing the broad macro and credit trends, and leading and coordinating Moody’s ratings approach, across franchises in the region. Laura joined Moody’s in 2008 in London, where she worked as a senior credit analyst, covering leading European financial institutions. She relocated to Madrid in September 2016 to join the corporate finance team. Before joining Moody’s, Laura worked for AM Best covering European insurers. Laura holds a B.A. in Business Administration from University of Oviedo in Spain, and is a Chartered Financial Analyst (CFA). |

Maria Cabanyes is a Senior Vice President and the Team Coordinator in the EMEA Financial Institutions Group for Spain and Portugal, in addition to which she is lead analyst for the larger financial institutions in Spain.
Ms Cabanyes joined Moody’s London-based banking team in December 1992, since when she has followed banks as lead analyst, as well as in Spain, in the Nordic region, Portugal and in Latin America. Ms Cabanyes has also served as Regional Credit Officer Moody’s Banking and Finance rating teams in EMEA for ensuring compliance with existing rating methodologies, supporting the development and implementation of analytical initiatives as well as facilitating global rating consistency.
Prior to joining Moody’s in 1992, Ms Cabanyes was an equity analyst at Iberagentes (Spain). Ms Cabanyes has a Bachelor Degree in Business Administration and MSc in Finance from Colegio Universitario de Estudios Financieros (CUNEF) Madrid.

José de León is Senior Vice President – Manager with Moody’s EMEA covered bond group. He leads a team of credit analysts located across various European offices and coordinates covered bonds ratings in the Asia Pacific region. During his tenure at Moody’s, he has played a key role implementing and adjusting the Moody’s covered bond methodology to different asset classes and jurisdictions across Europe. He joined Moody’s in 2003 as an RMBS/ABS analyst. Before joining Moody’s, he worked in the structuring as well as trading of ABS, and as exotic equity derivative controller. José graduated from the Universidad Complutense (Madrid) with a degree in economics and in finance from Frankfurt School of Finance and Management (HfB). He also holds the certificate in quantitative finance (CQF). |

Carlos Winzer is a Senior Vice President at Moody’s Investors Service where he heads up the European telecommunications team in the Corporate Finance Group. Mr. Winzer joined Moody´s New York in 1992. After spending two years at Moody’s office in NY and eight years in London, he relocated to the Madrid office in 2002. He joined Moody’s from Citibank NA, where he was Corporate Bank Risk Manager and Relationship Officer in Corporate Finance. Mr. Winzer holds a graduate degree in economics and business administration from CUNEF (Colegio Universitario de Estudios Financieros in Madrid). In addition, he holds a postgraduate degree in business administration from Guildhall University in London. Mr. Winzer is a professor at ICADE business school and IEB MBA program in Madrid.