The affirmation reflects Biggeorge Property’s integrated real estate and fund management platform, strong pipeline and stable debt. Earnings are set to increase, while risks stem from cash flow volatility and concentration in Hungary.

The recent capital increase has stabilised the company's financial risk profile by significantly reducing LTV and increasing interest cover, leading to a change in Outlook to Stable from Negative.

Scope Ratings has updated its rating report on Banco Santander S.A., rated AA-, with Stable Outlook.

The rating continues to reflect the company’s strong financial risk profile and weak business profile. Despite its expansion strategy, resilient operating performance and stable growth are expected in the near term.

The periodic review has resulted in no rating action.

The issuance ratings are supported by a guarantee from Østfold County Municipality and are therefore aligned with Østfold’s AA+/Stable ratings.

The periodic review has resulted in no rating action.

The periodic review has resulted in no rating action.

Solid reserve buffers, conservative debt management and low exposure to contingent liabilities support the ratings. Challenges relate to sustained operating pressures, rising debt levels, limited budgetary flexibility and weakening demographic trends.

The periodic review has resulted in no rating action.