
18/7/2025 Rating announcement
Scope affirms European Stability Mechanism’s AAA rating with Stable Outlook
A strong capital base, very high liquidity buffers, excellent capital market access and highly rated key shareholders support the rating. Concentration of sovereign borrower exposure and shareholder structure are challenges.

18/7/2025 Rating announcement
Scope affirms the Kingdom of Spain’s credit ratings at A and maintains the Stable Outlook
A resilient and diversified economy, favourable debt profile, and strong institutions are strengths; high public debt, structural unemployment, and ageing-related fiscal pressures are constraints.

18/7/2025 Monitoring note
Scope has completed a monitoring review for the Land of Saxony-Anhalt
The periodic review has resulted in no rating action.

18/7/2025 Rating announcement
Scope affirms European Financial Stability Facility’s AA+ rating with Stable Outlook
Highly rated shareholders, a strong guarantee mechanism and favourable capital market access support the rating; challenges are concentrated sovereign borrower exposures and a concentrated shareholder base.

18/7/2025 Monitoring note
Updated Rating Report on Georgian MFO Rico Express LLC
Scope Ratings has updated its rating report on Georgian MFO Rico Express LLC, rated B+ with Stable Outlook.

18/7/2025 Rating announcement
Scope affirms OTP Bank’s BBB+ issuer rating with Stable Outlook
Rating affirmation reflects the group’s robust operating performance and strong prudential metrics.

17/7/2025 Monitoring note
Scope publishes analytical report on Market Építő Zrt.
Following the recent rating action on Market Építő Zrt. on 15 July 2025, Scope has released an associated analytical report.

17/7/2025 Rating announcement
Scope affirms issuer rating of Tegeta Motors at BB- and assigns Negative Outlook
The affirmation reflects Scope’s view that the issuer will refinance the bond maturing in December 2025 after securing adequate external liquidity. The negative outlook accounts for the risk that the funding structure will not improve as expected.

17/7/2025 Research
France: multi-year budget plan supports fiscal outlook but great uncertainty remains
The government’s commitment to fiscal discipline is challenged by a rising interest burden, an economic slowdown and a fragmented and uncertain political environment weighing on the country’s fiscal and reform outlook.