2/10/2024 Research
Germany: demographic challenges require reforms amid political fragmentation
Germany is facing severe demographic challenges with more acute structural pressures than other advanced economies. Labour-market and pension reforms are essential, but fragmented politics risks eroding the country’s competitiveness.
1/10/2024 Monitoring note
Updated rating report on MFO Rico Express LLC
Scope Ratings has updated its rating report on MFO Rico Express LLC, rated B+ with Stable Outlook.
1/10/2024 Monitoring note
Scope has completed a monitoring review for Sirius Funding plc - Corporate CLO
No action has been taken on the Class A and Class B notes following the monitoring review.
1/10/2024 Rating announcement
Scope affirms Cassa Depositi e Prestiti's issuer rating of BBB+ with Stable Outlook
The ratings are driven by the high integration with the Italian Republic and the likelihood of exceptional support.
1/10/2024 Research
Global economic outlook: A resilient world economy faces US election test
The US and global economies remain resilient ahead of forthcoming US elections. However, Europe’s economic fragility poses challenges for credit despite support from the easing of interest rates.
1/10/2024 Research
European CRE/CMBS: only six of 20 loans have repaid or been refinanced
Only six of the 20 loans in European CMBS that were scheduled to refinance this year have been repaid or refinanced. Nine were modified and three were extended. Meanwhile, two thirds of the loans still fail bank lenders’ refinancing requirements.
30/9/2024 Rating announcement
Scope affirms B/Stable issuer rating on Reneszánsz Kőfaragó Zrt.
The affirmation is driven by stable operating profitability and a strong order backlog, providing visibility on revenues until 2026, while weak diversification and limited size make the issuer vulnerable to adverse market developments.
30/9/2024 Rating announcement
Scope downgrades Class A notes issued by Maior SPV S.r.l. - Italian NPL ABS
Scope downgrades the class A notes issued by Maior SPV S.r.l., a static cash securitisation of Italian NPLs, following a monitoring review.
27/9/2024 Rating announcement
Scope affirms Germany's AAA rating with Stable Outlook
The ratings are supported by a wealthy, large, diversified economy, sound public finances and a strong external position. Transition risks related to carbon neutrality targets, an ageing population and global geopolitical risks are challenges.