Scope recently introduced modifications to its retail rating methodology, notably the introduction of the Scope-adjusted EBITDA interest plus lease amortisation cover.

The consideration of the ratio reflects a more comprehensive assessment of an issuer’s debt-like commitments, including operating leases, which influence debt protection metrics. Scope has reviewed the implications of this change for Ceconomy and concluded that, in spite of the company’s material level of lease obligations, the update in the rating methodology had no impact on existing ratings. Scope maintains continuous monitoring and updating of Ceconomy’s credit ratings, in line with its stated policies and procedures.

The methodologies applicable for the reviewed ratings and/or rating Outlooks (General Corporate Rating Methodology, 14 February 2025; Retail and Wholesale Rating Methodology, 25 June 2025) are available on scoperatings.com/governance-and-policies/rating-governance/methodologies.
This monitoring note is issued by Scope Ratings GmbH, Lennéstraße 5, D-10785 Berlin, Tel +49 30 27891-0.
Lead analyst: Claudia Aquino, Associate Director

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