What is shaping corporate credit in Central Asia and the Caucasus?
Join Moody’s Ratings analysts for a one-hour webinar examining the economic, financing and market developments shaping corporate credit across Central Asia and the Caucasus.
Agenda
Sovereign update
- Global macro outlook and key themes we watch
- Digital transformation broadens regional economic prospects
- Geopolitical risk remains a credit constraint
Is the banking sector an effective channel for financing the local economy?
- Ample liquidity supports lending capacity, although funding remains predominantly short-term and relatively costly
- Cooperation with government institutions facilitates the financing of longer-term projects at more affordable funding costs
- Increasing access to external funding is enhancing banks' capacity to support long-term lending and investment projects
- Development banks play a critical role in providing long-term financing for strategic economic and infrastructure projects
Corporates in Central Asia and the Caucasus — sector trends and key rating factors
- Resilient, sovereign-linked credit profiles in a changing geopolitical environment
- Governance and liquidity profiles remain key considerations in Moody’s rating assessment
Sustainable and transition finance
- Key trends shaping the labelled-debt market in the CAC region and globally
Q&A
Speakers
Marcus Yiu
Assistant Vice President, Sovereign Risk
Moody's Ratings
Vladlen Kuznetsov
Vice President, Financial Institutions
Moody's Ratings
Ekaterina Lipatova
Vice President, Corporate Finance
Moody's Ratings
Lena Gillich
Assistant Vice President, Sustainable Finance Assessments
Moody's Ratings
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Marcus Yiu is an Assistant Vice President within Moody’s Sovereign Risk Group. Based in Singapore, he covers a portfolio of sovereign credits in the Asia Pacific and Central Asia regions.
Marcus joined Moody’s in January 2020, after working at J.P. Morgan Asset Management as a Market Analyst based in Hong Kong. There, he performed macroeconomic and market research with a focus on Asia and took part in generating asset allocation ideas for clients.
Marcus graduated with a Bachelor of Science in Economics from the University of Warwick.
Vladlen Kuznetsov is a Vice President at Moody’s Ratings, based in Dubai. He covers a portfolio of banks and other financial institutions in the CIS countries in the Financial Institutions Group. Vladlen has an extensive background of almost 20 years in credit risk analysis of banks and other financial institutions, regional and local governments and entities related to local and central governments.
Vladlen joined Moody’s in 2006. Prior to joining Moody’s, he had worked for Fitch Ratings in Moscow covering banks and other financial institutions in Russia and other CIS countries. Before that, Vladlen worked for Ernst & Young and Arthur Andersen in Moscow with experience in banking audits since 1998.
Vladlen holds Master’s degree in engineering and economics from the Moscow Aviation Institute (National Research University) in Moscow. He is also a Chartered Financial Analyst (CFA) and a holder of Financial Risk Manager (FRM) and Sustainability Climate Risk (SCR) charters from GARP (General Association of Risk Professionals).
Ekaterina Lipatova is a Vice President at Moody’s, based in Dubai. She is responsible for ratings of corporate issuers in various sectors in CIS including oil&gas, infrastructure, consumer products, and others.
Ekaterina joined Moody’s in 2008 after working for VTB for 5 years, in Moscow, specialising in corporate lending and later in trade finance transactions. Ekaterina holds two Master degrees in Finance from the State Academy of Finance in Moscow and SDA Bocconi School of Management in Milan.
Lena Gillich is an Assistant Vice President on the Sustainable Finance Assessments team, where she brings extensive experience in producing over 70 Second Party Opinions (SPOs) across diverse sectors, including corporates, financials, and (sub-)sovereigns. Her areas of expertise include green buildings, circular economy, and water & wastewater management.
Prior to joining Moody’s Ratings in 2021, Lena spent four years as a sustainability and management consultant in the DACH region, focusing on developing and implementing tailored ESG strategies for corporates in various industries.
Lena holds a master’s degree in Economics, specializing in Finance and Banking, from the University of Muenster in Germany. In 2023, she further enhanced her expertise by obtaining certification in Climate and Renewable Energy Finance from the Frankfurt School – FS-UNEP Collaborating Center.