Announcements

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      Webinar: Performance review and outlook for Italian NPL ABS

      31/5/2023 Research EN

      Webinar: Performance review and outlook for Italian NPL ABS

      Wednesday, June 7th 2023 - 3:30 PM (CEST)

      Webinar: European real estate: prepare for more pain from higher yields

      31/5/2023 Research EN

      Webinar: European real estate: prepare for more pain from higher yields

      Tuesday, June 20th 2023 - 3:00 PM (CEST)

      Italian NPL collections: fewer DPOs, note sales pull down Q1 volumes

      30/5/2023 Research EN

      Italian NPL collections: fewer DPOs, note sales pull down Q1 volumes

      March Italian NPL collections increased by 33% on the month but were 23% and 28% lower than March 2021 and 2022, respectively. Meanwhile, first quarter 2023 volumes were 16% below the average of the same period of the previous two years.

      Scope updates its covered bond rating methodology

      24/5/2023 Research EN

      Scope updates its covered bond rating methodology

      The updated methodology, now final following a call-for-coment period, will apply to all covered bonds ratings.

      Italian NPL securitisation review: performance to remain subdued in 2023

      22/5/2023 Research EN

      Italian NPL securitisation review: performance to remain subdued in 2023

      We expect the performance of Italian NPL securitisations to remain subdued in 2023, although stable relative to last year. A series of factors is slowing the Italian economy and weakening affordability, which could in turn compromise collections.

      US woes reveal where covered bonds are most vulnerable

      16/5/2023 Research EN

      US woes reveal where covered bonds are most vulnerable

      Recent events regarding Credit Suisse and US regional banks have a direct read-across to covered bonds in that it was not credit quality but liquidity that led to the banks’ downfall, plus the crystallisation of market-value losses on high-quality assets.

      Party over for European homeowners

      9/5/2023 Research EN

      Party over for European homeowners

      The uncertain economic environment continues to push European house prices lower. But challenges are also crystallising in net residential mortgage lending, which nosedived to almost zero in the half year to February 2023, only slowly reverting in March.

      Italy paves the way for revived covered bond issuance

      3/5/2023 Research EN

      Italy paves the way for revived covered bond issuance

      Italy’s full transposition of the EU Covered Bond Directive paves the way for Italian issuers to return to the covered bond market. The updated legal framework is credit neutral to our governance support, allowing issuers to achieve the highest ratings.

      Real Estate Insight - April 2023

      27/4/2023 Research EN

      Real Estate Insight - April 2023

      European residential real estate firms face price, interest-cover pressure; refinancing risk intensifies for CMBS; covered bonds to shine as go-to product in troubled times; higher rates challenge open-ended real estate funds.

      Structured Finance: Downward trend in trailing ratings drift continues

      20/4/2023 Research EN

      Structured Finance: Downward trend in trailing ratings drift continues

      The deteriorating macroeconomic environment led to a worsening trend in Scope’s 12-month trailing ratings drift in the first quarter of 2023, continuing the downward path that began in Q4 2021.