Announcements

    Drinks

      Scope affirms B+ issuer rating on consumer goods company Naturtex and revises Outlook to Stable

      15/4/2025 Rating announcement EN

      Scope affirms B+ issuer rating on consumer goods company Naturtex and revises Outlook to Stable

      The Outlook change is driven by the recovery in demand for Naturtex’s discretionary products and its profitability which have resulted in an improved financial risk profile.

      Scope affirms A- issuer rating of Norwegian utility, telecom firm Lyse, revises Outlook to Negative

      4/4/2025 Rating announcement EN

      Scope affirms A- issuer rating of Norwegian utility, telecom firm Lyse, revises Outlook to Negative

      The Negative Outlook reflects increased leverage in 2024, with additional large growth investments in the next few years expected to limit deleveraging potential, which has resulted in a weaker financial risk profile.

      Scope affirms B+/Stable issuer rating of Appeninn

      2/4/2025 Rating announcement EN

      Scope affirms B+/Stable issuer rating of Appeninn

      The affirmation reflects the company’s solid operating performance, which has allowed credit metrics to remain well within Scope’s rating guidance.

      Scope affirms Hungarian food producer Tranzit’s issuer rating at BB- and revises Outlook to Negative

      1/4/2025 Rating announcement EN

      Scope affirms Hungarian food producer Tranzit’s issuer rating at BB- and revises Outlook to Negative

      The Outlook change reflects the continued deterioration of operating profitability in 2024, and the uncertainties surrounding medium-term cash generation, which is highly exposed to shifts in the market environment.

      Scope affirms German retailer Ceconomy’s BBB-/Stable issuer rating

      1/4/2025 Rating announcement EN

      Scope affirms German retailer Ceconomy’s BBB-/Stable issuer rating

      The affirmation is driven by moderate EBITDA growth, despite persisting macro-economic headwinds, supporting stable leverage and positive free operating cash flow.

      Scope affirms Norwegian electricity grid operator Arva’s BBB+/Stable issuer rating

      1/4/2025 Rating announcement EN

      Scope affirms Norwegian electricity grid operator Arva’s BBB+/Stable issuer rating

      The affirmation reflects Scope’s unchanged view on Arva’s financial risk profile despite expectations of lower capex.

      Scope affirms BB/Stable issuer rating on Germany’s Hörmann Industries GmbH

      31/3/2025 Rating announcement EN

      Scope affirms BB/Stable issuer rating on Germany’s Hörmann Industries GmbH

      A good financial risk profile and solid position in some market niches support the rating. A weak position in Automotive, high dependence on Funkwerk, customer and end-market concentration, and volatile free operating cash flow are constraints.

      Scope affirms Norwegian specialty chemicals company Borregaard’s A-/Stable issuer rating

      26/3/2025 Rating announcement EN

      Scope affirms Norwegian specialty chemicals company Borregaard’s A-/Stable issuer rating

      Borregaard's affirmed rating reflects its good business risk profile and strong financial risk profile, though increased debt in 2024 and higher expected capex over the next few years have slightly weakened credit metrics.

      Scope has updated its analytical report on Biggeorge Property Nyrt.

      25/3/2025 Monitoring note EN

      Scope has updated its analytical report on Biggeorge Property Nyrt.

      Following the recent affirmation of the B+/Stable issuer rating, Scope has updated its analytical report on Biggeorge Property Nyrt.

      Scope affirms KÉSZ Holding Zrt.’s issuer rating at BB-, maintains Negative Outlook

      24/3/2025 Rating announcement EN

      Scope affirms KÉSZ Holding Zrt.’s issuer rating at BB-, maintains Negative Outlook

      The affirmation is driven by stable business despite a decline in topline revenue, supported by strong liquidity and diversification efforts, while the Negative Outlook reflects lingering legal uncertainties and market challenges.