Scope Ratings publishes its final rating methodology for CRE securities and CMBS following a call for comments. The proposed update clarifies and refines the analytical approach. The application of the methodology affects several outstanding ratings.

Scope’s ABS mandates continue to grow with Asti Group RMBS IV, a securitisation of prime Italian residential mortgages arranged by UniCredit. The mandate follows the ECB’s inclusion of Scope’s ABS ratings in its credit assessment framework (ECAF).

Italian NPL collections rose by 11% month-on-month in October but were significantly below the volumes recorded in the same month of the past two years.

Consumer, corporate and SME ABS and RMBS have experienced positive ratings drift since the pandemic, a period characterised by extremely low levels of borrower insolvencies, mainly due to powerful policy measures in support of households and businesses.

Scope Ratings has published the performance overview of notes issued by Marzio Finance, a EUR 10bn securitisation programme backed by ‘cessione del quinto’ and ‘delegazione di pagamento’ (CQS) loans originated by IBL Banca.

Homeowners in some European markets prefer floating-rate mortgages while others prefer longer-dated fixed interest rates. Given that borrowing costs are all linked to the same ECB rates, this is somewhat counter intuitive.

Global Capital has opened the call for nominations for its European Securitization Awards 2025. Awards are selected following a two-stage process: nominations will form the basis of a shortlist for each award that is then voted on by market participants.

Post-summer seasonal effects pushed September collections up 71% month-on-month, but volumes were 40% lower than the September 2022-2023 average.

Scope proposes an update to its CRE Loan and CMBS Rating Methodology and calls for comments from market participants by 4 December 2024. The proposed update clarifies and refines Scope’s analytical approach.

With sovereign credit quality reflecting fiscal and economic challenges, the Draghi report offered valuable insights into how to address some structural issues facing the euro area. But the report was notably silent on the contribution of covered bonds.