Announcements

    Drinks

      Scope affirms Corem Property Group’s BBB-/Negative rating

      23/12/2024 Rating announcement EN

      Scope affirms Corem Property Group’s BBB-/Negative rating

      The rating affirmation reflects the company's prudent efforts to deleverage and strengthen its balance sheet, including through capital increases, while the continued Negative Outlook reflects the risk of credit metrics remaining below Scope's thresholds.

      Scope affirms A+ issuer rating on Mercedes-Benz Group AG and revises Outlook to Negative from Stable

      23/12/2024 Rating announcement EN

      Scope affirms A+ issuer rating on Mercedes-Benz Group AG and revises Outlook to Negative from Stable

      The Negative Outlook reflects the challenging business climate in 2024 and the dim outlook for 2025. A very strong financial risk profile is the key support. The ratings have been converted into unsolicited public ratings for business reasons.

      Scope affirms A+ rating on Mercedes-Benz Manufacturing Hungary Kft., revises Outlook to Negative

      23/12/2024 Rating announcement EN

      Scope affirms A+ rating on Mercedes-Benz Manufacturing Hungary Kft., revises Outlook to Negative

      The rating of Mercedes-Benz Manufacturing Hungary Kft. is aligned with the rating on Mercedes-Benz Group AG, reflecting the latter’s explicit guarantee on an outstanding bond and Mercedes-Benz Group’s implicit guarantee to the rated entity.

      Scope affirms BBB-/Stable issuer rating on Encavis; subsequently withdraws all outstanding ratings

      23/12/2024 Rating announcement EN

      Scope affirms BBB-/Stable issuer rating on Encavis; subsequently withdraws all outstanding ratings

      The affirmation reflects Encavis’ strong business risk profile and the temporary challenges from delays in commissioning and meteorological conditions.

      Scope places BB rating of B+N under review for a developing outcome

      20/12/2024 Rating announcement EN

      Scope places BB rating of B+N under review for a developing outcome

      The rating action follows the acquisition of KÖBERL Group by B+N, a German FM services provider, which could improve the issuer’s business risk profile at the cost of higher leverage and an overall deterioration in credit metrics.

      Scope has completed a monitoring review for Air Liquide

      20/12/2024 Monitoring note EN

      Scope has completed a monitoring review for Air Liquide

      No action has been taken on the A/Positive corporate issuer rating on Air Liquide S.A. and its financing subsidiary Air Liquide Finance S.A. Similarly, no action was taken on the S-1 short-term rating and A senior unsecured debt rating.

      Scope affirms Hell Energy’s B+/Positive issuer rating

      20/12/2024 Rating announcement EN

      Scope affirms Hell Energy’s B+/Positive issuer rating

      The affirmation reflects an unchanged moderate business risk profile, constrained by improving but still weak credit metrics after large expansionary capex cycle.

      Scope downgrades Elkem’s issuer rating to BBB-/Stable from BBB/Negative

      20/12/2024 Rating announcement EN

      Scope downgrades Elkem’s issuer rating to BBB-/Stable from BBB/Negative

      The rating action is driven by a slower-than-expected recovery in credit metrics amid continued market headwinds, which has led to a downward revision of the financial risk profile.

      Scope affirms Neova’s BBB- rating with Stable Outlook

      19/12/2024 Rating announcement EN

      Scope affirms Neova’s BBB- rating with Stable Outlook

      Neova’s affirmed rating reflects its moderate business risk and financial risk profiles, still assessed at BB+, and a positive one-notch adjustment for the group’s status as a government-related entity.

      Scope assigns first-time issuer rating of B-/Positive to DEMIRE

      19/12/2024 Rating announcement EN

      Scope assigns first-time issuer rating of B-/Positive to DEMIRE

      The rating is supported by the recent bond restructuring, which provides time to continue with the divestment plan to reduce leverage and stabilise the capital structure. The rating is constrained by ongoing refinancing risk.