Announcements

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      Updated rating report on Aurskog Sparebank

      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.

      European CRE/CMBS: bumper start to the year

      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.

      Scope places fertiliser producer Nitrogénművek’s CC rating under review for a developing outcome

      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.

      Scope affirms BBB- rating on SAF-HOLLAND SE and revises Outlook to Stable from Positive

      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.

      Scope affirms B/Stable issuer rating on Hungarian transport and logistics company Trans-Sped

      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.

      Scope downgrades class A and B notes issued by BCC NPLs 2019 S.r.l. - Italian NPL ABS

      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.

      Italy: US tariffs and slow EU-fund absorption weaken growth near term

      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.

      Scope withdraws ratings on the Arab Republic of Egypt

      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.

      Scope has completed a monitoring review for the Land of Hesse

      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.

      Scope affirms BBB-/Stable issuer rating of Germany’s investment holding Haniel

      17/4/2025 Rating announcement

      Scope affirms BBB-/Stable issuer rating of Germany’s investment holding Haniel

      The affirmation is driven by Haniel’s continuously good financial risk profile which offsets the persistent concentration risks on the holding’s recurring income and asset values.