28/11/2023 Research EN
Credit Lines: might COP 28 be a boon for green bonds?
As COP 28 starts, investors are once again grappling with the need to make their views count when assessing the feasibility of net-zero strategies, especially in the energy sector. This may be good news for green-bond issuance.
21/11/2023 Research EN
Hungary: construction sector unsettled by low volumes, thin margins, uncertainty over EU funds
The credit outlook for Hungary’s construction sector is negative after years in which government incentives, strong housing demand and state spending on infrastructure, partly funded by the EU, filled order books and fattened profit margins.
20/11/2023 Research EN
Poland’s coal-power carve-out plan promises credit gains for Polish utilities – with caveats
Carving out the coal assets of Poland’s power utilities into a separate state-owned company would be credit positive, improving their longer-term business profiles and capital-market access, assuming a fair valuation for the legacy businesses.
16/11/2023 Research EN
Hungary corporate outlook: inflation, lack of EU funds, tight and costly funding test credit quality
Hungarian companies have proved their resilience in a difficult operating environment of high interest rates, falling growth and a stubborn inflation in the past year, but the credit outlook is deteriorating despite state support in some sectors.
10/11/2023 Research EN
Scope Ratings publishes new Oil and Gas Rating Methodology and calls for comments
The proposed new methodology lays out Scope’s analytical approach for oil and gas companies. The methodology as proposed is expected to have limited rating impact on outstanding ratings if implemented as proposed.
25/10/2023 Research EN
Scope publishes new rating methodology for services companies and calls for comments
The proposed new methodology applies to European consumer and business services companies and includes a comprehensive set of industry-specific risk drivers. The methodology as proposed could have a limited positive impact on outstanding credit ratings.
23/10/2023 Research EN
Credit Lines: long tail risks emerge as rising yields collide with geopolitical tensions
Events in the Middle East have highlighted how investors ignore tail risks at their peril. Another tail risk is playing out in the bond market with potentially severe consequences for borrowers.
23/10/2023 Research EN
Oil and gas sector: contrasting IOC low-carbon capex strategies change risk profiles
Capital spending and shareholder remuneration among integrated oil and gas companies (IOCs) are shifting amid uncertainty over the timing of peak oil and the quality of near-term returns from low-carbon projects, subtly altering producers’ risk profiles.
16/10/2023 Research EN
Scope Ratings publishes final General Corporate Rating Methodology
The methodology is now final following a call-for-comments period and will apply to all issuer and debt ratings of non-financial corporates. The application of the methodology will not trigger any rating changes.