3Q 2022 Investor Presentation
$Trillions
Refunding Walls Continue to Build
Next four years U.S. and EMEA total refunding needs¹ as of:
Withdrawn Russian Debt²
$4.5
$4.0
$3.5
CAGR = ~7%
~$4.0
<$0.2
-$3.9
$3.0
$2.5
~$2.0
$2.0
$1.5
$1.0
$0.5
$0.0
T
Jan '12
Jan '13
Jan '14
Jan '15
Jan '16
Jan '17
Jan '18
Jan '19
Jan '20
Sep '20
Sep '21 Sep '222
1.
Amounts reflect total MIS-rated U.S. non-financial corporate bond and loan maturities, in addition to EMEA non-financial corporate and infrastructure bond and loan maturities as defined in Moody's Investors Service's refunding needs
reports (2012-2022). Each bar represents four-year refunding needs.
2.
In March 2022, Moody's withdrew the ratings of Russian companies, reducing total EMEA debt.
MOODY'S
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3Q 2022 Investor Presentation 16View entire presentation