Scope Ratings’ sovereign and public sector group presents issuers, investors, policy makers and market participants forward-looking opinions on credit risk via research and ratings on sovereigns, supranational and sub-sovereign institutions, government-related entities (GREs) and social housing providers. Scope rates 100% of EU sovereign issuers and 75% of global sovereign debt (at issuer level).
Rating overview
Scope’s sovereign and public sector methodologies are based on quantitative and qualitative scorecards, allowing us to strike an appropriate balance between analytical consistency and acknowledgement of issuer-specific characteristics. We make clear when we use our own judgement in the assessment of credit risk. Our coverage includes four asset classes – sovereigns, sub-sovereigns, government-related entities and supranational institutions – allowing us to analyse the interactions between these and implications for sovereign and public sector credit quality.
Our sovereign quantitative model embeds five-year forecasting, making the rating framework significantly forward looking. Our analytical emphasis rests on structural rather than cyclical dynamics. We also attach more weighting to flow than stock variables. We transparently assess the benefit of reserve currencies and the credit-relevant challenges associated with heightened political risks.
First major agency to embed environmental, social and governance (ESG) factors as a stand-alone sovereign rating methodological pillar, emphasising longer-run ESG risk with significant 25% weight in the quantitative model.
Transparent communication to markets on sovereign quantitative-model ratings as well as precise analyst adjustments in rating actions – no “black box”.
Assigned credit ratings on 40+ sovereigns, 30+ sub-sovereigns, 50+ government-related entities and six core European supranational institutions.
Scope’s sovereign and public sector research reflects market-leading outlooks on sovereign borrowers, sub-sovereign and government-related entities, and supranational institutions. Research studies provide deeper insight on specific subjects, while shorter commentaries inform market participants around the credit implications of latest political, economic, fiscal and monetary developments.
Read latest research
Our diverse team of sovereign and public sector analysts is based in our Frankfurt, Berlin, Paris, Milan and Madrid offices.
As of Nov 21, 2024* (click on country name to visit issuer page)
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*Foreign-currency long-term issuer rating
Scope’s sovereign ratings and ratings histories are also displayed on Wikirating, FX Empire and Macrobond, among other platforms.
As of Nov 21, 2024* (click on supranational entity to visit issuer page)
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*Foreign-currency long-term issuer rating
As of Nov 21, 2024* (click on sub-sovereign name to visit issuer page)
*Foreign-currency long-term issuer rating
