5/12/2025 Rating announcement
Scope affirms BB-/Stable issuer rating on Cellfie Mobile LLC
The affirmation reflects Scope’s expectation of a stable market position and comfortable financial risk profile, despite significant capex plans, which helps Cellfie manage liquidity risk posed by the upcoming bond maturity.
5/12/2025 Rating announcement
Scope affirms Instituto de Crédito Oficial at A and revises the Outlook to Positive
Explicit guarantee, strong integration with the public sponsor and robust standalone fundamentals support the rating. The Outlook revision of Spain’s rating, to which ICO’s ratings are aligned, drives the Outlook change.
4/12/2025 Rating announcement
Scope upgrades Deutsche Bank’s issuer rating to A, revises Outlook to Stable
The upgrade reflects structural progress in strengthening the earnings mix and cost base, pointing to a more balanced business model. The rating is underpinned by the bank’s strong market position, improved earnings capacity and adequate financial metrics
4/12/2025 Rating announcement
Scope affirms BB- issuer rating on Cordia; Outlook revised to Stable
The rating action reflects Cordia’s improved earnings visibility and adequate liquidity.
4/12/2025 Research
Webinar: European Banking Outlook 2026: late-cycle headwinds put resilience to the test
Thursday 11 December 2025 - 15:00 (CET)
3/12/2025 Monitoring note
Updated issuer report on ING Groep N.V.
Scope Ratings has updated its issuer report on ING Groep N.V., rated AA- with Stable Outlook.
3/12/2025 Rating announcement
Scope affirms Banco Santander’s AA- issuer rating with Stable Outlook
The rating reflects the group’s resilient and diversified business model, supportive earnings capacity and adequate buffers to prudential requirements.
3/12/2025 Research
Poland unveils ambitious plans for covered bonds
The cut in minimum Long-Term Funding Ratio (WFD) requirements from 40% to 20% recommended by Poland’s Financial Supervision Authority and the inclusion of capped retail deposits come alongside bold measures to strengthen the covered bond market.
2/12/2025 Rating announcement
Scope affirms UniCredit‘s A issuer rating with Stable Outlook
The rating continues to benefit from the groups’ well-executed geographical diversification, with solid franchises in several European countries and strong financial fundamentals.
