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The collapse of UK construction company Carillion highlights the importance of contract risk management and of maintaining margins for companies in the European engineering and construction (E&C) sector, Fitch Ratings says. The sector is largely sub-investment grade, but investment-grade ratings are possible where both the business and balance

Government KYC regulation and stricter data laws will impact mobile wallet usage, which is already showing signs of slowing. While government digital-ID efforts have done little to help and a continuous public preference for cash and distrust towards online payment systems present downsides to further growth, usage of the Unified Payments Interface

Canada's Bank Recapitalization (Bail-in) Regime increases the protection for covered bondholders against a hypothetical issuer default, according to Fitch Ratings. It will lead to larger buffer against a potential issuer downgrade for Fitch-rated covered bond programs of federally Domestic Systemically Important Banks (D-SIB) in Canada. Under an

The Iranian economy will see growth accelerate over the quarters ahead, as European, Russian and Chinese commitment to improving relations with Tehran facilitate an uptick in investment. US primary sanctions, limited credit availability, and various structural impediments will nevertheless prevent a boom in the economy, particularly as hydrocarbon

The prospect of rating upgrades outnumbering downgrades this year and next is higher than at any time since the financial crisis. But credit quality may start to weaken beyond this as ultra-supportive monetary policy is phased out and rising interest rates start to affect funding costs and asset quality. 

"The rating outlook trend is the most

Hungary's per capita GDP convergence with more developed economies in Western Europe will slow over the next decade relative to the pre-crisis period. Among the major headwinds dampening long-term growth prospects will be a shrinking labour force, low levels of capital investment, and weak productivity growth.

We expect the Hungarian economy to

Food security and environmental concerns are driving change in the Asian agribusiness sector, with biofuel mandates being increased and sustainable palm oil certification schemes being strengthened in Indonesia and Malaysia, while agricultural giants such as China and India modernise their production complexes by rationalising support policies and

The new price control methodology which will apply for water companies in England and Wales from April 2020 is credit-negative for the sector as it will increase both financial and business risks, Fitch Ratings says. The latest AMP proposals include the industry regulator's (Ofwat) early view of the much reduced cost of capital, reflecting the

BMI View: 2018 is expected to be a year of peak growth in the construction sector, and we expect dry ports to emerge as a new growth segment of the infrastructure market. Rising risks will emerge in 2018 that have the potential to slow the market, including widespread political risk and poor project development environments hindering Belt and Road

The world's two largest money market funds have both grown rapidly, but for very different reasons. These funds' profiles illustrate structural risk differences between their respective markets.

China's Yu'E Bao (which translates into "leftover treasure") is the world's largest money market fund (MMF), with CNY1.56 trillion (USD233 billion) in