Outlook and Key Macro Themes for Emerging Market Finance & Leasing Companies 2021 | Fitch Ratings | 1 December 2021 | Virtual

Prospects for emerging market (EM) finance and leasing companies (fincos) remain tied to authorities’ ability to control the pandemic. Chinese credit demand is expected to continue to soften somewhat, and we expect soft single digit credit growth for Indonesia in 2022. A swifter than expected recovery in India coupled with an improved vaccination rate, improves its credit growth outlook. Although we expect Latin-American (LatAm) fincos to continue to face a challenging environment, Mexican credit growth may benefit from a post-recession bounce, albeit not expected to reach pre-pandemic levels. In Turkey and Russia geopolitical risks and policy uncertainty will add to the pandemic stresses, and limit growth.

Please join senior analysts from our Non-Bank Financial Institutions Group to discuss the 2022 outlook for emerging market fincos. Topics of discussion will include:

• Recovery and growth prospects and the potential for COVID-19 related setbacks
• Asset quality pressures
• Regulatory trends and impact on credit flow
• Sensitivity to foreign currency risks
• Issuance/refinancing trends

2021 Speakers

Mark Young
Managing Director, Head of EMEA and APAC Non-Bank Financial Institutions (NBFIs)

Monsur Hussain
Head of Research for Global Financial institutions

Veronica Chau Rodriguez
Senior Director, Head of Mexican FIs, covering Mexico and Colombia

Aslan Tavitov
Senior Director, covering Russia and Turkey

Elaine Koh
Director, covering India and Indonesia

Shirley Hsu
Director, covering China