The upgrade reflects structural progress in strengthening the earnings mix and cost base, pointing to a more balanced business model. The rating is underpinned by the bank’s strong market position, improved earnings capacity and adequate financial metrics

The rating action reflects Cordia’s improved earnings visibility and adequate liquidity.

Scope Ratings has updated its issuer report on ING Groep N.V., rated AA- with Stable Outlook.

The rating reflects the group’s resilient and diversified business model, supportive earnings capacity and adequate buffers to prudential requirements.

The rating continues to benefit from the groups’ well-executed geographical diversification, with solid franchises in several European countries and strong financial fundamentals.

The DIG acquisition reduces balance-sheet flexibility and limits potential upside to credit metrics, driving the Outlook change.

The Outlook revision to Negative reflects refinancing risks tied to the senior unsecured bond’s amortization schedule, as well as the potential for sustained pressure on credit metrics should market recovery be further delayed.

The affirmation reflects Sanofi’s solid credit metrics and resilient operating performance, underpinned by sustained growth in Dupixent sales.

The revision of the Outlook to Positive on Spain’s sovereign rating drives the Outlook change for the region.

The Outlook revision to Negative reflects the issuer's fragile capital structure, characterised by rising leverage amid weak asset sales, which drives refinancing risk and increases the likelihood of further debt restructuring.