Announcements

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      Political instability heightens risks to French banks’ profitability outlook

      2/9/2025 Research

      Political instability heightens risks to French banks’ profitability outlook

      French banks are well positioned to navigate short-term market volatility, but a prolonged political crisis could weigh on the sector via lower growth in lending and higher funding costs, partially reversing recent improvements in profitability.

      Scope downgrades issuer rating of Ilija Batljan Invest AB to SD (selective default)

      1/9/2025 Rating announcement

      Scope downgrades issuer rating of Ilija Batljan Invest AB to SD (selective default)

      Rating actions and SD status reflect both tender on senior unsecured bonds and ongoing disagreement between the company and creditors around acceleration clause triggered by noteholders under the terms of the bond indenture.

      Scope downgrades class A notes issued by Bela 2022 S.r.l. - Italian NPL ABS

      1/9/2025 Rating announcement

      Scope downgrades class A notes issued by Bela 2022 S.r.l. - Italian NPL ABS

      The underlying portfolio of secured and unsecured NPL loans was sold by illimity Bank S.p.A., and is serviced by Cerved Credit Management S.p.A.

      Scope affirms BB/Positive issuer rating of Swedish real estate company Fastpartner AB

      1/9/2025 Rating announcement

      Scope affirms BB/Positive issuer rating of Swedish real estate company Fastpartner AB

      The affirmation reflects the expected stabilisation in credit metrics thanks to the sharp decline in interest rates but still constrained by risks from the exposure to floating interest rates.

      Scope has completed the periodic review of BCC NPLs 2021 S.r.l. – Italian NPL ABS

      1/9/2025 Monitoring note

      Scope has completed the periodic review of BCC NPLs 2021 S.r.l. – Italian NPL ABS

      This publication does not constitute a rating action.

      Scope affirms BB- issuer rating on Georgian FMCG company JSC Nikora; revises Outlook to Negative

      29/8/2025 Rating announcement

      Scope affirms BB- issuer rating on Georgian FMCG company JSC Nikora; revises Outlook to Negative

      The rating affirmation highlights strong operational performance and sustained growth, supported by a robust financial risk profile; revision of Outlook reflects increased refinancing risks stemming from substantial upcoming bond maturities.

      Scope affirms BB-/Stable issuer rating on Georgian retailer JSC Nikora Trade

      29/8/2025 Rating announcement

      Scope affirms BB-/Stable issuer rating on Georgian retailer JSC Nikora Trade

      The affirmation reflects resilient performance and steady growth, supported by a solid financial risk profile and despite an expansion strategy expected to increase pressure on cash flow and liquidity.

      Scope downgrades GTC’s issuer rating to B- from B+, maintains under review for a developing outcome

      29/8/2025 Rating announcement

      Scope downgrades GTC’s issuer rating to B- from B+, maintains under review for a developing outcome

      The downgrade reflects elevated refinancing risk from approaching maturities, adding pressure on GTC’s liquidity profile.

      Scope rates AAA(SF) Italian pharmacy SME notes issued by Emma SPV S.r.l.

      28/8/2025 Rating announcement

      Scope rates AAA(SF) Italian pharmacy SME notes issued by Emma SPV S.r.l.

      The EUR 606.4m underlying portfolio of SME loan receivables was originated to SME borrowers operating pharmacies by Banca Credifarma S.p.A.

      Scope has completed a periodic review of BBVA RMBS 22, FT-Spanish RMBS

      28/8/2025 Monitoring note

      Scope has completed a periodic review of BBVA RMBS 22, FT-Spanish RMBS

      This publication does not constitute a rating action.