What matters in EMEA corporate credit: M&A Momentum and Consumer Trends in Food Retail
European non-financial corporates continue to navigate a complex environment shaped by evolving deal activity and shifting consumer dynamics. While M&A activity is gradually recovering, execution risks, valuation gaps, and financing conditions remain key determinants of credit outcomes. At the same time, food retailers provide a real-time lens into consumer resilience, trading patterns and margin pressures across Europe.
Join us for our quarterly European Corporate Finance webinar, where we explore the developments that matter most today.
Discussion topics include:
- What are the key drivers underpinning the current recovery in European M&A activity?
- Which sectors are likely to see the most meaningful deal flow, and what are the implications for credit quality?
- How are financing conditions and private equity behaviour shaping transaction dynamics?
- What do food retailers reveal about the strength and segmentation of European consumer demand?
- How are pricing strategies, cost inflation and competition affecting margins and credit profiles in the sector?
- What are the broader implications for corporate strategy and rating trajectories?
Speakers
Andrea Usai
Associate Managing Director, Corporate Finance
Moody's Ratings
Carlos Winzer
Senior Vice President, Corporate Finance
Moody's Ratings
Marie Fischer-Sabatié
Senior Vice President, Corporate Finance
Moody's Ratings
Alberto Postigo
Vice President - Senior Credit Officer, Financial Institutions
Moody's Ratings
Maria Maslovsky
Vice President - Senior Credit Officer, Corporate Finance
Moody's Ratings
Ruosha Li, CFA
Vice President - Senior Analyst, Credit Strategy and Standards
Moody's Ratings
Timo Fittig
Assistant Vice President - Analyst, Corporate Finance
Moody’s Ratings
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Andrea leads a team of London-based analysts within the corporate finance franchise covering a diverse portfolio of industries. Andrea started his career at Banca Intesa in Italy where he worked as a private banker, as a corporate banker and he also worked as an analyst at Bloomberg Financial Markets in London. Andrea was also a banking supervisor with the UK Financial Services Authority (FSA) for eight years. Andrea joined Moody’s in London 2011 and prior to his current role, he managed the Business & Consumer Services Team in New York for several years.
Carlos Winzer is a Senior Vice President at Moody’s Ratings where he heads up the European telecommunications team in the Corporate Finance Group. Mr. Winzer joined Moody´s New York in 1992. After spending two years at Moody’s office in NY and eight years in London, he relocated to the Madrid office in 2002. He joined Moody’s from Citibank NA, where he was Corporate Bank Risk Manager and Relationship Officer in Corporate Finance. Mr. Winzer holds a graduate degree in economics and business administration from CUNEF (Colegio Universitario de Estudios Financieros in Madrid). In addition, he holds a postgraduate degree in business administration from Guildhall University in London. Mr. Winzer is a professor at ICADE business school and IEB MBA program in Madrid.
Marie Fischer-Sabatié is a Senior Vice President in the Corporate Finance Group (CFG) team based in Paris. Marie has lead responsibility for a portfolio of European pharmaceutical companies and food retailers.
During her tenure at Moody’s, Marie has covered a number of sectors, including Consumer Packaged Goods, Shipping, Business Services across Europe, when she was based in Paris between 2001 and 2016, and Telecom and Mining in Latin America, when she was based in Mexico City between 2016 and 2020.
Prior to joining Moody’s in 2001, Marie worked at Santander in Chile and Crédit Lyonnais in New York. She is a graduate of ESCP (Ecole Supérieure de Commerce de Paris).
Alberto Postigo joined Moody’s Ratings in 2002. He is currently based in Madrid with responsibilities as lead analyst for a number of Spanish banks. Before joining the Financial Institutions Group, Mr. Postigo worked in the structured finance group for six years, mostly in the analysis and rating of ABS transactions.
Before joining Moody’s, Mr. Postigo worked at Lucent Technologies as a senior consultant in the switching and networking group. Mr. Postigo holds a degree in Telecommunications Engineering by the Universidad de Valladolid as well as a degree in Economics and Business Administration by the Universidad Autónomade Madrid.
Maria Maslovsky is Vice President – Senior Credit Officer at Moody’s in the EMEA Corporate Finance Group based in London. She is managing a portfolio of both investment grade and high yield names falling in the Chemicals, Transportation, Services and Travel sectors.
Maria joined Moody’s in 2003. Her previous roles in the company include working in Moody’s New York office as an analyst covering US Real Estate Investment Trusts (REITs) and commercial real estate finance firms.
Prior to Moody’s, Maria was an analyst at a hedge fund and an associate at JP Morgan in New York.
Maria holds an MBA from Columbia Business School and a Bachelor of Science from Cornell University.
Ruosha joined Moody’s in January 2011. She is part of the Credit Strategy & Guidance team based in London. Previously, she worked as an economic research analyst at Barrie & Hibbert in Edinburgh, now part of Moody’s Analytics.
Prior to that, she served as a credit analyst at HSBC in China. Ruosha holds a master’s degree in finance and investment from the University of Edinburgh, where she graduated with distinction, and a bachelor’s degree in economics from Southwestern University of Finance and Economics in China. She is a Chartered Financial Analyst (CFA) and a certified Financial Risk Manager.
Timo is a Lead Analyst within Moody’s Corporate Finance Group, based in London. He is currently responsible for a portfolio of predominantly leveraged finance credits with focus on the automotive manufacturing and business & consumer services sectors in Europe.
Prior to joining Moody’s in 2015, Timo had worked as a Financial Controller at Gruner AG in Germany. Timo holds a Master’s degree in Banking and Finance from Edinburgh Napier University, Scotland, and a Master’s degree in International Accounting and Taxation from ESB Business School Reutlingen, Germany.