Economic uncertainty is pressuring oil and gas prices, despite support from geopolitics and OPEC+ supply cuts. The energy industry is also caught between the competing priorities of energy security and energy transition, while adapting to broader ESG trends. We look forward to seeing everyone in person to share our perspective on overall corporate credit conditions, current credit dynamics in the energy industry and medium-term trends that are shaping the North American credit energy landscape.
Agenda
Conference registration
Welcome Remarks and Corporate Credit Conditions
Corporate borrowers are adapting to higher interest rates and tighter credit access as capital markets stay volatile and regional banks remain challenged. What are Moody’s areas of focus now as the challenged credit cycle continues?
Moody’s Global Macro Economic Outlook 2023-24
Tight financial conditions will continue to dampen global economic growth through 2023 and keep growth below trend in 2024. What are Moody’s latest expectations for GDP growth, inflation, and the US Federal Reserve’s and other major central banks policy stance on interest rates?
Energy Credit Landscape
Oil and gas companies continue to follow capital discipline and reduce debt in response to shareholder demands and longer term uncertainties related to energy transition. These trends combined with supportive oil prices have driven continued positive rating actions. What are Moody’s key credit themes for oil and gas, expectations for commodity prices, and prospects for further ratings improvement?
ESG risks and the intersection with credit risk
The energy industry is caught between the competing priorities of energy security and energy transition, while adapting to broader ESG trends. What does transition mean for oil and gas ratings, particularly at the higher end of the rating scale?
Break
Panel Discussion: Harnessing medium term growth opportunities in Natural Gas
High prices and limited availability of natural gas in 2022 caused many emerging market economies to rely on other sources of energy. What does it mean for growth in global demand for natural gas in the medium term? Panelists discuss scenarios and evolving credit themes for US Exploration and Production and Midstream sectors followed by audience Q&A.
Transition Break
Breakout Session
- Integrated companies, E&P and OFS companies
- Midstream and Refining
Networking Event
Event Details:
Venue Name: 7 World Trade Center
Address: 250 Greenwich Street, New York, NY 10007
Date: October 18, 2023
Time: 1:30 PM -5:30 PM EDT
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Glenn Eckert, CFA is an Associate Managing Director with Moody’s Investors Service, currently heading the Chemicals, Coal, and Packaging ratings team, and the Global Covenant Research team. Glenn has managed teams for Moody’s since 2013 including the Homebuilding, Materials, and Products team, as well as Accounting Specialists. He has served as a Ratings Chairperson across a broad spectrum of industries since 2004. Glenn began his career with Moody’s in 2000 as a Senior Analyst for the media industry. Glenn has led a myriad company-wide initiatives in collaboration with other senior leaders across the globe and business function, most recently including: Culture of Excellence Champions Coordinator for North America, Diversity and Inclusion Ambassador to CFG Americas, Multicultural ERG Senior Adviser to the Recruitment and Retention Subcommittee. Previous organization-wide contributions include: hybrid securities analysis for the New Instruments Committee, CFG BES evaluation and improvement, design, development and delivery of regulatorily required capstone analytical training to all North American ratings staff, initiation of a suite of Private Monitored Ratings products in the Americas, and a global strategic analysis and monitoring of CFG competition and opportunities. Glenn has presented Moody’s views before investor audiences from venues exceeding several hundred to series of round-tables and one-on-one meetings. Glenn has appeared on Bloomberg Television, CNBC, and has been broadly quoted in the financial press including the Wall Street Journal, Bloomberg, Financial Times, and CFO Magazine among others. |
Madhavi Bokil is a Senior Vice President, heading the Macro Research Team of the Credit Strategy and Standards Group. She is a member of Moody’s Macro Board and the lead author of Moody’s Global Macroeconomic Outlook.
Before joining Moody’s Ratings Madhavi held positions as Senior Economist at AIG and GE Capital, undertaking global macroeconomic analysis, forecasting and CCAR stress testing. Prior to that she held a faculty position in the Department of Economics at Clark University, where she pursued research in and taught International Macroeconomics and Monetary Economics. She holds a BA in Economics from Fergusson College, Pune, India, a MA in Economics from the University of Mumbai, India and a PhD in International Economics from the University of California at Santa Cruz.
Pete Speer is an Associate Managing Director in Moody’s Oil and Gas Team, covering a portfolio of investment grade and high yield energy companies. His portfolio includes integrated oil, exploration and production, drilling, oilfield services and midstream companies. He joined Moody’s in 2003 in the Accounting Specialists Group, working alongside energy rating analysts and helping them to assess the reliability and quality of issuers’ financial reporting and controls. Before joining Moody’s, Pete was a senior manager in the national office of PricewaterhouseCoopers LLP. For two years he consulted with audit engagement teams on a variety of complex financial accounting and reporting issues. Prior to his assignment in the national office, Pete was resident in the Houston office and served as the audit engagement senior manager for several multi-national energy industry clients. Pete is a Certified Public Accountant and is licensed in Texas and Michigan. Pete graduated from the University of Michigan with a Bachelor of Business Administration.
John Thieroff is a Senior Analyst in Moody’s Oil and Gas Team, currently assigned to Moody’s ESG initiative. His ESG efforts are focused on carbon transition risk for sectors within the Corporate Finance Group that are considered to have significant exposure.
Prior to joining Moody’s, John worked for more than 20 years in energy credit in a variety of capacities including commercial lending at Chemical Bank and Christiania Bank, as a Director in Standard & Poor’s Oil and Gas group and as a Ratings Advisor at GE Capital. He also advised on transfer pricing for multi-national oil companies as an independent consultant.
John graduated with a Bachelor of Science in Finance from Central Michigan University and has a Master of Business Administration from the University of Toledo.
Amol Joshi joined the Oil and Gas Team at Moody’s in early 2014. He is the lead analyst on a portfolio of high yield and investment grade companies focused on exploration and production, refining and marketing, midstream and oilfield services.
Amol brings 20 years of banking, buy-side and corporate finance experience to Moody’s having begun in the energy investment banking group at Jefferies & Company in Houston, TX. He has also worked in the energy groups at Banc of America Securities and Macquarie Group, as well as in asset management at Henry Kaufman & Company, investing in corporate securities and commodities.
Amol holds a Bachelor of Mechanical Engineering degree from the University of Bombay and a graduate degree in Finance from the Tepper School of Business at Carnegie Mellon University. Amol is a Chartered Financial Analyst and member of the CFA Institute.
Sajjad Alam is an Vice President-Senior Credit Officer within Moody’s Corporate Finance Group in New York covering a portfolio of mostly high-yield E&P, midstream, drilling and oilfield services companies. Sajjad joined Moody’s in 2006 and spent the first two years analyzing companies in the North American metals and mining industry and the paper and forest product industry as a support analyst. Prior to joining Moody’s, Sajjad was a Senior Manager at Scotiabank’s Global Risk Management Group in Toronto responsible for revamping the bank’s risk assessment framework. Previous to that, he held various analytical and management reporting positions at Deutsche Bank, The Bank of New York and Morgan Stanley. Sajjad has an MBA in Finance from York University in Toronto, and a B.S. in Accounting and Economics from The University of Tennessee at Knoxville. He is also a CFA charter holder and a Certified Public Accountant.
Gayle Podurgiel is a Vice President – Senior Analyst in Moody’s Global Project and Infrastructure Finance team based in New York. Gayle serves as lead credit rating analyst for a portfolio of debt issuers including public power utilities, community choice aggregators and joint action agencies. She also covers project issuers including fossil and renewable power generation plants, liquified natural gas projects and other commodity-linked generic project finance debt financings. Prior to joining Moody’s in 2018, Gayle was a vice president in equity research at Credit Suisse covering metals & mining stocks. She also held research roles at Standard and Poor’s covering natural resources corporate debt and at T. Rowe Price supporting coverage of investment grade utility and pipeline bonds. Gayle earned her MBA and Finance MS at the University of Maryland and her BBA at James Madison University in Virginia. She is a CFA charter holder.