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      Credit Lines: might COP 28 be a boon for green bonds?

      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.

      Hungary: construction sector unsettled by low volumes, thin margins, uncertainty over EU funds

      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.

      Poland’s coal-power carve-out plan promises credit gains for Polish utilities – with caveats

      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.

      Hungary corporate outlook: inflation, lack of EU funds, tight and costly funding test credit quality

      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.

      Scope Ratings publishes new Oil and Gas Rating Methodology and calls for comments

      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.

      Credit Lines: why money markets matter

      8/11/2023 Research EN

      Credit Lines: why money markets matter

      European banks’ minimum reserve requirements are coming into focus as the ECB seeks to normalise the transmission of monetary policy and improve the allocation of liquidity across the banking system.

      Scope publishes new rating methodology for services companies and calls for comments

      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.

      Credit Lines: long tail risks emerge as rising yields collide with geopolitical tensions

      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.

      Oil and gas sector: contrasting IOC low-carbon capex strategies change risk profiles

      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.

      Scope Ratings publishes final General Corporate Rating Methodology

      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.