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      Our Approach

      Our methodologies, ratings and research offer issuers and investors a diversified set of credit opinions to support price-discovery mechanisms and thus efficient resource allocation. Our timely ratings and assessments foster greater competition in the credit rating agency industry, offering market participants a wide range of expertise and transparency.

      Our distinctive approach to sovereign and public-sector credit assessment, based on proprietary methodologies, is tailored to the macro-economic, fiscal, legal, and political complexities of issuers.

      Our methodologies are based on quantitative and qualitative scorecards, allowing us to strike an appropriate balance between analytical consistency and acknowledgement of issuer-specific characteristics.

      Our four methodologies embed environmental, social and governance (ESG) factors and state clearly when we apply our own judgement in the assessment of credit risk.

      Covering all asset classes dealing with sovereigns and the public sector allows us to analyse interactions between these layers to better capture the relevant implications for sovereign and public sector credit quality.

      Our Research

      We publish in-depth outlooks and thematic research on sovereign, sub-sovereign, and supranational entities. Shorter commentaries address the credit implications of political, economic, fiscal, and monetary developments.

      Read latest research
      research_sovereign_public | Scope One
      Team Contacts

      Our diverse team of sovereign and public sector analysts is based in our Frankfurt, Berlin, Paris, Vienna and Madrid offices.

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      Alvise Lennkh-Yunus
      Head of Sovereign and Public Sector
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      Carlo Capuano
      Deputy Head Sovereign and Public Sector
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      Florian Stapf
      Business Developement
      Additional information

      Scope's 2025 Sovereign and Public Sector Rating Calendar

      How We Are Different (Presentation)

      2025 Sovereign and Public Sector Rating Actions, Updated 1 August 2025

      Sovereign Ratings

      As of Sep 3, 2025* (click on country name to visit issuer page)

      Europe Other Countries
      EURO Area NON-EURO AREA EU
      Austria AA+
      Stable
      Belgium AA-
      Negative
      Croatia A-
      Stable
      Cyprus A-
      Stable
      Estonia A+
      Stable
      Finland AA+
      Negative
      France AA-
      Stable
      Germany AAA
      Stable
      Greece BBB
      Stable
      Ireland AA
      Stable
      Italy BBB+
      Stable
      Latvia A-
      Stable
      Lithuania A
      Positive
      Luxembourg AAA
      Stable
      Malta A+
      Stable
      Netherlands AAA
      Stable
      Portugal A
      Stable
      Slovakia A
      Negative
      Slovenia A+
      Stable
      Spain A
      Stable
      Bulgaria A-
      Stable
      Czech Republic AA-
      Stable
      Denmark AAA
      Stable
      Hungary BBB
      Stable
      Poland A
      Stable
      Romania BBB-
      Stable
      Sweden AAA
      Stable
      OTHER WESTERN EUROPE
      Norway AAA
      Stable
      Switzerland AAA
      Stable
      United Kingdom AA
      Stable
      OTHER EUROPE
      Georgia BB
      Negative
      Serbia BB+
      Stable
      Turkey BB-
      Stable
      Ukraine SD
      None
      AFRICA
      Egypt
      N/A
      Morocco
      N/A
      South Africa BB
      Stable
      REST OF THE WORLD
      China A
      Stable
      Japan A
      Stable
      United States AA
      Negative

      *Foreign-currency long-term issuer rating

      Scope’s sovereign ratings and ratings histories are also displayed on WikiratingFX Empire and Macrobond, among other platforms.

      Supranational Ratings

      As of Sep 3, 2025* (click on supranational entity to visit issuer page)

      Visit ScopeOne for Scope Ratings’ full analytical research
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