Announcements

    Drinks

      Scope affirms Georgia’s BB ratings, and maintains a Stable Outlook

      27/1/2023 Rating announcement

      Scope affirms Georgia’s BB ratings, and maintains a Stable Outlook

      Resilient growth since Russia-Ukraine crisis, prudent fiscal policy, strong debt profile and strengthened banking system support ratings. Heightened geopolitical and domestic political risks alongside external vulnerabilities are ratings challenges.

      Scope affirms Switzerland's AAA ratings with Stable Outlook

      27/1/2023 Rating announcement

      Scope affirms Switzerland's AAA ratings with Stable Outlook

      The ratings are supported by a wealthy, diversified economy, low public debt and a strong external position. Financial imbalances and uncertainty around Swiss-EU relations represent credit challenges.

      Scope affirms Luxembourg's credit ratings at AAA with a Stable Outlook

      27/1/2023 Rating announcement

      Scope affirms Luxembourg's credit ratings at AAA with a Stable Outlook

      A wealthy economy with solid fundamentals, robust public finances, and a strong external position support the ratings. Exposure to global shocks as a small, open economy, age-related fiscal pressures and rising financial imbalances are challenges.

      Scope downgrades Casino’s issuer rating to B+/Stable from BB-/Stable

      27/1/2023 Rating announcement

      Scope downgrades Casino’s issuer rating to B+/Stable from BB-/Stable

      The downgrade reflects a weaking financial risk profile due to increased leverage and a difficult business environment in France.

      Spain: sovereign borrowing costs contained despite rise in yields, tighter ECB policy

      26/1/2023 Research

      Spain: sovereign borrowing costs contained despite rise in yields, tighter ECB policy

      Spain can cope with rising borrowing costs and the ECB’s winding down of its purchases of euro area sovereign bonds due to the improved profile of Spanish public debt and the country’s relatively robust economic outlook.

      Scope assigns AAA rating to DNB Boligkreditt's NOK 50bn issue (NO0012427055), Outlook Stable

      26/1/2023 Rating announcement

      Scope assigns AAA rating to DNB Boligkreditt's NOK 50bn issue (NO0012427055), Outlook Stable

      The rating on the Norwegian mortgage-covered bond reflects the issuer's credit quality enhanced by a six-notch governance-support based uplift. The high-quality cover pool with low mismatch risk provides additional rating stability.

      Scope Financial Conditions Index improves in January

      26/1/2023 Research

      Scope Financial Conditions Index improves in January

      A less bleak economic outlook and the prospect that inflation and interest rates will peak in Europe this year have eased capital market conditions as refinancing gets underway, supporting credit quality. However, pockets of corporate distress remain.

      Scope has completed a monitoring review of Retiro Mortgage Securities DAC – Spanish NPL ABS

      25/1/2023 Monitoring note

      Scope has completed a monitoring review of Retiro Mortgage Securities DAC – Spanish NPL ABS

      No action has been taken on the notes issued by Retiro Mortgage Securities DAC following a monitoring review.

      Scope affirms Sun Group Kft’s B+/Stable issuer rating

      25/1/2023 Rating announcement

      Scope affirms Sun Group Kft’s B+/Stable issuer rating

      The updated corporate strategy and financial policy are in line with the current rating levels.

      Scope updates its General Structured Finance Rating Methodology

      25/1/2023 Research

      Scope updates its General Structured Finance Rating Methodology

      No impact expected on existing ratings