Post-summer seasonal effects pushed September collections up 71% month-on-month, but volumes were 40% lower than the September 2022-2023 average.

Scope Ratings has updated its rating report on Brage Finans AS, rated A- with Positive Outlook.

Even blue-chip companies with the strongest sustainability profiles, including robust ESG-mitigation strategies, have much room to improve their environmental and social impacts.

Strengths are strong debt protection, good leverage and resilient business operations. Constraints are size, customer diversification, the focus on a single product category and as a result volatile credit metrics.

Scope proposes an update to its CRE Loan and CMBS Rating Methodology and calls for comments from market participants by 4 December 2024. The proposed update clarifies and refines Scope’s analytical approach.

The change in Outlook reflects the increased interest burden along with broadly flat profitability expected for 2024 given the challenging environment.

Scope Ratings has updated its rating report on the Obligasjoner med fortrinnsrett (Norwegian mortgage-covered bonds) issued by Landkreditt Boligkreditt AS.

No action has been taken on the rating for the senior notes issued by Blauracke GmbH.

A globally leading position in maritime classification and services, coupled with robust cash generation and low leverage supports the rating. Profitability pressures and dependence on the largest service lines are constraints.

The upgrade is supported firstly by better-than-expected operating performance, leading to improved credit metrics as input prices normalise, and secondly by debt reduction as Vajda-Papír consolidates its sister company, Vajda-Papír Scandinavia AS.