3/7/2024 Rating announcement
Scope assigns BBB ratings to Norwegian Property’s recent senior secured bond issues
The senior secured bonds with a first-ranking pledge on the Fondbygget property are assigned a new rating of BBB. In addition, the senior secured bond with a pledge on Drammensveien 60 is assigned a new rating of BBB.
3/7/2024 Rating announcement
Scope affirms B+ rating on AutoWallis Nyrt; revises the Outlook to Stable from Positive
The outlook change follows the expectation that new debt-financed acquisitions will drive higher leverage and lower debt protection in the medium term.
3/7/2024 Research
France: electoral outcome set to slow growth reforms, fiscal consolidation, and EU policy agenda
France’s planned consolidation of its public finances risks being deferred considering the most likely outcomes of the legislative elections, with important consequences for the EU’s policy agenda and potentially euro area investor sentiment.
2/7/2024 Monitoring note
Scope has updated its analytical report on Uniper SE
Following the recent affirmation of the BBB-/Stable issuer rating, Scope has updated its analytical report on Uniper SE.
2/7/2024 Rating announcement
Scope affirms Vonovia’s issuer rating at A- and maintains a Negative Outlook
The Negative Outlook reflects the significant risk that high leverage may persist for a prolonged period, despite the company’s ongoing deleveraging efforts through asset sales.
1/7/2024 Research
Structured Finance Activity Report: negative ratings drift continues to recede
The persistent negative rating drift in place between the fourth quarter of 2021 and third quarter of 2023 continues to recede. The upward shift is mainly due to reduced rating pressure on CRE/CMBS and secured NPL transactions.
28/6/2024 Rating announcement
Scope affirms European Investment Bank’s AAA rating with Stable Outlook
Sustained profit retention, very high asset quality, excellent access to capital markets and ECB facilities, a very strong mandate and highly rated shareholders support the rating. High leverage is the key challenge.
28/6/2024 Rating announcement
Scope attribue la note AA à la Caisse d'Amortissement de la Dette Sociale, avec perspective négative
Une importance stratégique élevée, une interdépendance financière forte et une haute probabilité de soutien extraordinaire justifient l'égalisation des notations avec celles de la République française.
28/6/2024 Rating announcement
Scope rates Caisse d'Amortissement de la Dette Sociale at AA with a Negative Outlook
High strategic importance, strong financial interdependence and high probability of extraordinary support underpin the equalization on French Republic's long-term ratings.
28/6/2024 Rating announcement
Scope affirms the City of Trondheim’s AAA rating with Stable Outlook
Robust budgetary performance, ample liquidity, a sustainable economy and a well-integrated institutional framework support the rating. A high debt stock, limited revenue flexibility and limited expenditure flexibility are challenges.