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2/12/2024 Rating announcement
Scope affirms Class A and upgrades Class Z and B - Spanish RMBS notes issued by FT RMBS Prado VIII
The EUR 480m underlying portfolio of residential mortgages was originated to private individuals by Unión de Créditos Inmobiliarios, S.A., Establecimiento Financiero de Crédito.
2/12/2024 Rating announcement
Scope affirms Class A and upgrades Class B - Spanish RMBS notes issued by FT RMBS Prado VII
The EUR 515m underlying portfolio of residential mortgages was originated to private individuals by Unión de Créditos Inmobiliarios, S.A., Establecimiento Financiero de Crédito.
2/12/2024 Rating announcement
Scope affirms the BB- issuer rating on 4iG and revises the Outlook to Stable from Positive
The rating action reflects Scope’s expectations of delayed deleveraging amid ongoing transactions impacting financial trajectory.
29/11/2024 Monitoring note
Scope has completed a monitoring review for the Republic of Italy
The periodic review has resulted in no rating action.
29/11/2024 Rating announcement
Scope affirms and publishes Madrid’s A ratings with a Stable Outlook
Strong budgetary performance, robust access to financial markets, and a wealthy, diversified economy support the rating. High, though declining debt burden and limited budgetary flexibility are constraints.
29/11/2024 Monitoring note
Scope has completed a monitoring review for the European Investment Bank
The period review has resulted in no rating action.
29/11/2024 Research
Italian CQS ABS: Marzio Finance performance snapshot
Scope Ratings has published the performance overview of notes issued by Marzio Finance, a EUR 10bn securitisation programme backed by ‘cessione del quinto’ and ‘delegazione di pagamento’ (CQS) loans originated by IBL Banca.
28/11/2024 Rating announcement
Scope downgrades Textura’s issuer rating to C and places ratings under review for possible downgrade
The downgrade is driven by the liquidity crunch the issuer is facing due to the covenant-related debt acceleration. The ratings are placed under review for a possible downgrade due to the immediate risk of selective default.
28/11/2024 Rating announcement
Scope affirms Totens Sparebank Boligkreditt's mortgage covered bonds at AAA/Stable
Merger of Totens Sparebank with Sparebank 1 Østlandet is credit neutral for TSBBs covered bonds while protection against downgrades increased; rating stability expected until covered bond programme is wound down.
