The proposed update refines and further clarifies Scope’s approach. Scope is calling for comments on the methodology by 27 April 2025. The methodology as proposed might have a limited negative impact on the outstanding ratings of two issuers.

Rearming Europe is set to boost demand for the region’s defence companies but will test the sector’s fragmented production capabilities, R&D, supply chains, and access to capital, says Scope Ratings.

Wednesday, April 9th 2025 - 11:00 AM (CEST)

BP plans to appease disgruntled shareholders and reduce its heavy debt load amid a mild cyclical downturn in the oil market. Further declines in crude prices could exacerbate financial pressures.

Europe’s real estate firms find funding respite but refinancing challenge looms; covered bonds provide stability in turbulent times; non-prime office segment faces rising vacancy rates; what can Frederick the Great tell us about today’s capital markets?

European corporate hybrid bond issuance could reach EUR 36bn in 2025, driven by a busy call schedule and lower subordination premiums. Almost EUR 25bn of hybrids hit call dates this year, rising to EUR 38bn in 2026.

Easing financial conditions and returning investor appetite for corporate debt have drawn a line under the European real estate sector’s funding squeeze, though a daunting short- to medium-term refinancing challenge remains.

The methodology is now final following a call-for-comments period and will apply to all issuer and debt ratings of non-financial corporates. A limited impact is expected on outstanding ratings.

European integrated oil and gas companies (IOCs) can look ahead to a balanced credit outlook for the rest of the year compared with the positive one they faced in 2024 as likely lower average oil prices reflect an amply supplied market.

European utilities face more difficult financial crosscurrents this year as years of extra earnings from elevated power prices have come to an end while the funding requirement to meet rising capital expenditure continues to grow.