Interest Rate Shock Adds to the Headwinds on European CRE 2023 | Moody's Investors Service, Inc. | 28 June 2023 | Online

Rising interest rates across Europe will lead to lower CRE valuations and higher refinancing risks for CRE debt, adding to headwinds from low economic growth and structural shifts in the sector. While European banks seem willing to continue lending to the sector for now, recent events in the US banking system may lead European banks to be more prudent on their underwriting standards. Join Moody’s senior analysts to hear their views on how they expect valuations to evolve, how the credit pressure varies by property type and country and what credit implications will be for REITs, CMBS and banks.

Discussion Topics:
• How do we expect CRE to evolve under the baseline and downside scenario?
• What drivers could trigger the downside scenario?
• What are the main risks by property type and country?
• What are the main credit implications for REITs, CMBS and banks?
• What actions can companies take to strengthen capital structures?

2023 Speakers

Laura Perez Martinez
Associate Managing Director/csr, Credit Strategy & Standards, Moody's Investors Service

Andrea Daniels
Associate Managing Director, Structured Finance Group, Moody's Investors Service

Elise Savoye
Vice President - Senior Analyst, Corporate Finance, Moody's Investors Service

Swen Metzler
Vice President - Senior Credit Officer, EMEA Banking, Moody’s Investors Service