Sovereign Credit Today | A topical update on the CEE region
Looking into 2026
- Poland (A2 negative): What are the key factors driving our negative outlook?
- Hungary (Baa2 negative): Prospects for growth, inflation, fiscal consolidation and EU funds ahead of the April 2026 elections
- Romania (Baa3 negative): What will we be watching in 2026 to assess the negative outlook?
Speakers
Dietmar Hornung
Associate Managing Director, Sovereign Risk
Moody's Ratings
Heiko Peters
Vice President - Senior Analyst, Sovereign Risk
Moody's Ratings
Steffen Dyck
Senior Vice President, Sovereign Risk
Moody's Ratings
Petter Bryman
Vice President - Senior Analyst, Sovereign Risk
Moody's Ratings
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Dietmar Hornung, Associate Managing Director, leads the Sovereign Risk Group’s European team, covering the European countries and the European supranationals. Prior to his appointment as team leader, Dietmar was Moody’s lead analyst on a number of European sovereign credits, including Germany, France, Italy, Ireland, Russia, EU, EFSF and ESM.
Before joining Moody’s in 2007, Dietmar was Head of Emerging Market Research for DekaBank in Frankfurt.
Dietmar holds a Doctorate summa cum laude in Economics from Otto-von-Guericke University in Magdeburg. He received a Masters degree from Christian-Albrechts University in Kiel after studies in Kiel, at the University of Miami, and at the Eberhard-Karls University in Tübingen.
Dietmar is a Certified EFFAS Financial Analyst (CEFA).
| Heiko Peters is a Vice President - Senior Analyst in Moody’s Sovereign Risk Group, and is based in the Frankfurt office. He has Lead Analyst responsibilities for a number of European sovereigns and supra-nationals, producing ratings and research related to their creditworthiness. Heiko joined Moody’s from Deutsche Bank AG, where he was Senior Economist - Vice President in the European Economics Team of Deutsche Bank Research for more than five years. He published research on economic and political topics, including global trade, labour markets, demographics and migration, and covered in particular the economies of Germany and Austria. Prior to that he had worked from 2009 to 2011 as an Economist for the German Council of Economic Experts in Wiesbaden, reporting to the Chair of the Council. Moreover, his professional background includes stints at the Deutsche Bundesbank (Visiting Researcher), Germany’s Monopolies Commission and the German Institute for Economic Research (DIW), both as a Visiting Fellow. He holds a PhD, a Master’s level diploma and a BSc in Economics from the University of Muenster. |
Steffen Dyck is a Senior Vice President in Moody’s Sovereign Risk Group.
Based in Frankfurt, he is the lead analyst for a portfolio of European sovereigns including Italy and, until recently, Germany.
Steffen is also co-heading the Sovereign group’s ESG work.
Up until early 2018, Steffen was the lead analyst for number of sovereigns and multilaterals in the Middle East, including Egypt and most of the Gulf Cooperation Council members.
Before relocating to Frankfurt in June 2015, Steffen was based in Moody’s Singapore office, where he covered sovereigns in the Asia-Pacific region as well as in the Middle East.
Prior to joining Moody’s in 2012, Steffen worked for more than six years with Deutsche Bank’s Risk Analysis team in Frankfurt and Singapore, covering macroeconomic and sovereign risk analysis across Asia (ex-Japan), Latin America, and Sub-Saharan Africa. He also helped manage the bank’s sovereign rating processes.
Petter Bryman is a Vice President – Senior Analyst with Moody’s Sovereign Risk Group, based in Frankfurt. He is the lead analyst for a number of European sovereigns, mainly in the Baltics and Central and Eastern Europe. Prior to joining Moody’s in February 2018, Petter served as a Desk Officer with the Budget Department of the Swedish Ministry of Finance for seven years, where he functioned as the lead analyst for fiscal policy across a number of different policy areas, including the public pensions system, social insurance, migration and integration policy as well as EU budget policy. Petter also previously worked on EU and international affairs at the Swedish Ministry of Enterprise, Energy and Communications as well as a political advisor at the European Parliament in Brussels and Strasbourg. Petter holds a BA in Politics, Philosophy and Economics from the University of Oxford and a Master in Public Administration from the John F Kennedy School of Government at Harvard University.