23/4/2025 Monitoring note
Updated rating report on Aurskog Sparebank
Scope Ratings has updated its rating report on Aurskog Sparebank, rated A- with Stable Outlook.
23/4/2025 Research
European CRE/CMBS: bumper start to the year
The first quarter of 2025 saw the highest quarterly issuance of European CMBS since the global financial crisis but refinancing risk for securitised loans is still high, while US tariffs could affect industrial, logistics and retail assets.
22/4/2025 Rating announcement
Scope places fertiliser producer Nitrogénművek’s CC rating under review for a developing outcome
The changed direction of the under-review status follows the company’s proposal of a restructuring of its EUR 200m eurobond which is originally due in May 2025.
22/4/2025 Rating announcement
Scope affirms BBB- rating on SAF-HOLLAND SE and revises Outlook to Stable from Positive
High aftermarket exposure, strong market positions and a strong financial risk profile support the rating. The low profitability and cyclicality of the OEM business are rating constraints. The revised Outlook reflects the business risks from tariffs.
22/4/2025 Rating announcement
Scope affirms B/Stable issuer rating on Hungarian transport and logistics company Trans-Sped
The affirmation reflects credit metrics being broadly in line with Scope’s forecast despite weaker operating profitability in 2024.
22/4/2025 Rating announcement
Scope downgrades class A and B notes issued by BCC NPLs 2019 S.r.l. - Italian NPL ABS
The underlying portfolio of secured and unsecured NPL loans was extended to companies and individuals by multiple originators and serviced by doValue S.P.A.
22/4/2025 Research
Italy: US tariffs and slow EU-fund absorption weaken growth near term
Italy’s economy is set to grow more slowly in 2025-26 given US tariffs and delays in recovery-plan investments. Still, reforms and continuing EU-fund deployment should support medium-term growth after 2026.
18/4/2025 Rating announcement
Scope withdraws ratings on the Arab Republic of Egypt
The withdrawal follows Scope’s decision to cease analytical coverage due to business reasons.
18/4/2025 Monitoring note
Scope has completed a monitoring review for the Land of Hesse
The periodic review has resulted in no rating action.
