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The recent volatility of the Turkish lira has limited immediate negative impact on the majority of rated non-bank financial institutions (NBFIs). However, the potential effect on asset quality, particularly for leasing companies, could be more pronounced in the medium term as economic confidence is impacted by the currency weakness and rising

Italian home prices have been stable at their trough, 17.1% down from the 2008 peak, for eight quarters in a row, even though the number of property trades has been increasing (8% yoy in 2017). Few exceptions to this long-lasting trough are the north-west, Lazio and the main metropolitan areas such as Milan, where prices are increasing. In southern

Stronger provisions in transaction documentation ahead of LIBOR's discontinuation are an important step to limit the number of legacy structured finance (SF) contracts. However, much still needs to be done before the end of 2021 when forced LIBOR panel participation will end. 

Fitch has reviewed new template language from trade associations and

As the credit cycle enters its late stage, key metrics are stronger than before the start of prior recessions, pointing towards a lower expected default rate in the near term.

"We're seeing better trends when compared to the 2001-2002 and 2008-2009 recessions," said Eric Rosenthal, Senior Director of Leveraged Finance. "The high yield default rate

Australia's 30+ day mortgage arrears increased by 12bp to 1.13% in 1Q18 from the previous quarter, which is consistent with the seasonal increase in spending during the end-of-year holiday period, says Fitch Ratings in a new report. 

Despite the rise, 30+ days arrears remained 9bp lower than in 1Q17, reflecting Australia's improved economic

South Korea's banks are likely to continue enjoying benign credit costs despite heightened uncertainties especially from increasing global trade protectionism and the US Fed's policy rate hike.

Fitch expects the near-term performance of the Korean banks to be steady considering their moderate risk appetite, a tighter regulatory approach and Korea

Underwriting results for Japan's top-four non-life insurers remained strong but overseas weather-related losses (including US hurricanes) affected their results in the financial year ended March 2018 (FYE18).

The three non-life groups (Tokio Marine Group, SOMPO Group and MS&AD Insurance Group) plan to boost the contribution from overseas business

After enduring one of the more active hurricane seasons in recent memory, U.S. P/C Insurers are well positioned for what is pointing to an average hurricane season in 2018. Early forecasts of the upcoming June 1 to November 30 hurricane season suggest that environmental forces that serve to encourage the development of tropical storm activity

Investors should be cautious before assuming the stronger collateral pools of recent marketplace loan (MPL) asset based securities (ABS) will perform better than prior transactions. Attempting to offset weakening performance on recent originations, particularly from the lowest quality borrowers, lenders have pulled back noticeably on lending to

High portfolio ramp has meant higher portfolio certainty for new collateralized loan obligation (CLOs) so far in 2018. However, the proportion of assets actually purchased and currently in a CLO portfolio at close may fall or CLOs may start deferring issuance if the current high demand prevents managers from sourcing new institutional leveraged