Announcements

    Drinks

      Scope affirms Hungarian food producer Tranzit’s issuer rating at BB- and revises Outlook to Negative

      1/4/2025 Rating announcement EN

      Scope affirms Hungarian food producer Tranzit’s issuer rating at BB- and revises Outlook to Negative

      The Outlook change reflects the continued deterioration of operating profitability in 2024, and the uncertainties surrounding medium-term cash generation, which is highly exposed to shifts in the market environment.

      Scope affirms German retailer Ceconomy’s BBB-/Stable issuer rating

      1/4/2025 Rating announcement EN

      Scope affirms German retailer Ceconomy’s BBB-/Stable issuer rating

      The affirmation is driven by moderate EBITDA growth, despite persisting macro-economic headwinds, supporting stable leverage and positive free operating cash flow.

      No rating impact on Leviticus SPV S.r.l. after amendments to transaction documents - Italian NPL ABS

      1/4/2025 Monitoring note EN

      No rating impact on Leviticus SPV S.r.l. after amendments to transaction documents - Italian NPL ABS

      Scope Ratings GmbH (Scope) announces that certain amendments to the transaction documents will not, in and of themselves, result in a Rating Action or withdrawal of the current rating of the class A notes issued by Leviticus SPV S.r.l.

      Scope affirms Norwegian electricity grid operator Arva’s BBB+/Stable issuer rating

      1/4/2025 Rating announcement EN

      Scope affirms Norwegian electricity grid operator Arva’s BBB+/Stable issuer rating

      The affirmation reflects Scope’s unchanged view on Arva’s financial risk profile despite expectations of lower capex.

      Scope has completed the periodic review of Yoda SPV S.r.l. – Italian NPL ABS

      1/4/2025 Monitoring note EN

      Scope has completed the periodic review of Yoda SPV S.r.l. – Italian NPL ABS

      This publication does not constitute a rating action.

      European Stability Mechanism ratings regulatory disclosures updated

      1/4/2025 Monitoring note EN

      European Stability Mechanism ratings regulatory disclosures updated

      Notification on the change of solicitation status.

      Scope affirms BB/Stable issuer rating on Germany’s Hörmann Industries GmbH

      31/3/2025 Rating announcement EN

      Scope affirms BB/Stable issuer rating on Germany’s Hörmann Industries GmbH

      A good financial risk profile and solid position in some market niches support the rating. A weak position in Automotive, high dependence on Funkwerk, customer and end-market concentration, and volatile free operating cash flow are constraints.

      Scope has completed a monitoring review for KfW

      28/3/2025 Monitoring note EN

      Scope has completed a monitoring review for KfW

      The periodic review has resulted in no rating action.

      Scope affirms United Kingdom's AA long-term ratings and maintains a Stable Outlook

      28/3/2025 Rating announcement EN

      Scope affirms United Kingdom's AA long-term ratings and maintains a Stable Outlook

      Sterling's reserve-currency status, deep capital markets, a robust international framework and large and diversified economy support the ratings. Rising public debt, elevated financing costs, and a weak external sector are challenges.

      Scope downgrades Italian NPL Class A notes issued by Siena NPL 2018 S.r.l.

      27/3/2025 Rating announcement EN

      Scope downgrades Italian NPL Class A notes issued by Siena NPL 2018 S.r.l.

      The underlying portfolio of secured and unsecured NPL loans was extended to companies and individuals by multioriginators and serviced by four special servicers.