Announcements

    Drinks

      Scope publishes final rating methodology for Pharmaceutical Companies’ Rating Methodology
      FRIDAY, 05/04/2024 - Scope Ratings GmbH
      Download PDF

      Scope publishes final rating methodology for Pharmaceutical Companies’ Rating Methodology

      The methodology is now final following a call-for-comments period and will apply to all issuer and debt ratings of corporates in the sector. The application of the updated methodology will not trigger any rating changes.

      Scope Ratings GmbH (Scope) has today published its updated rating methodology for pharmaceutical companies. The update provides a detailed presentation of Scope’s analytical approach for assigning credit ratings to pharmaceutical companies. The application of this methodology will not trigger any rating changes.

      The updated methodology can be downloaded here.

      Besides editorial changes, with this update Scope

      • aligned the industry risk matrix with the General Corporate Rating Methodology;
         
      • provided extended guidance on the assessment of business risk profile, including the ‘CCC and below’ category for operating profitability;
         
      • regrouped and introduced business risk profile assessment tables for the generics segment. This involved repositioning the formerly used diversification table to market shares and introducing a new diversification table;
         
      • assigned an implicit, qualitative factor to the formerly and explicitly defined ‘other’ rating driver element in the business risk profile;
         
      • aligned the financial guidance table with the General Corporate Rating Methodology and provided values for a AAA assessment on all credit metrics.

      Scope invited market participants to comment on the methodology by 10 February 2024. Scope has not received comments from market participants. 

      Related news

      Show all
      Scope affirms the issuer rating of Compactor Fastigheter AB at BBB-, revises Outlook to Stable

      6/9/2024 Rating announcement

      Scope affirms the issuer rating of Compactor Fastigheter AB ...

      Scope affirms BBB- rating on DFDS, Outlook Stable

      5/9/2024 Rating announcement

      Scope affirms BBB- rating on DFDS, Outlook Stable

      Scope affirms BBB/Stable issuer rating on Schouw & Co.

      5/9/2024 Rating announcement

      Scope affirms BBB/Stable issuer rating on Schouw & Co.

      Scope affirms Summus Capital OÜ’s issuer rating at BB/Stable

      4/9/2024 Rating announcement

      Scope affirms Summus Capital OÜ’s issuer rating at BB/Stable

      Scope downgrades LLD’s issuer rating to CC, revises the Outlook to Stable and withdraws all ratings

      2/9/2024 Rating announcement

      Scope downgrades LLD’s issuer rating to CC, revises the ...

      Scope affirms Fastpartner AB’s issuer rating at BB, changes Outlook to Positive

      30/8/2024 Rating announcement

      Scope affirms Fastpartner AB’s issuer rating at BB, changes ...