Announcements
Drinks
28/3/2024 Rating announcement EN
Scope affirms BB/Stable issuer rating on Hörmann Industries GmbH
A good financial risk profile, a diversified product portfolio and the good market position of Funkwerk support the rating. Low profitability, a weak position in automotive, the customer and end-market concentration and volatile FOCF are constraints.
27/3/2024 Rating announcement EN
Scope downgrades Nitrogenmuvek to B from BB-, places it under review for possible downgrade
The action follows rapid credit metric deterioration amid operational disruptions and concerns about refinancing a EUR 200m bond in May 2025. The under-review status signals further short-term rating pressure due to potential liquidity constraints.
25/3/2024 Rating announcement EN
Scope affirms Opus Tigáz’s BBB- issuer rating and revises the Outlook to Positive from Stable
The revised Outlook reflects Scope's view that the leverage could support a higher rating, driven by tariff increases, lower costs for grid losses and cash-funded bond amortisation. Still, this is subject to the final shape of the new regulatory period.
25/3/2024 Rating announcement EN
Scope affirms AAA rating of Wüstenrot’s Austrian mortgage-covered bonds, with Stable Outlook
The issuer’s credit strength combined with governance and cover pool support result in the highest rating. Market risks are moderate. Sound credit quality of the cover pool with granular, low loan-to-value domestic residential mortgage secured loans.
22/3/2024 Rating announcement EN
Scope affirms the sovereign rating of Japan at A and revises Outlook to Stable
Improvement of the inflation outlook and constructive effects for debt sustainability underpin change of the Outlook. Very-high gross government debt, comparatively weak nominal growth potential and rising ageing costs remain rating constraints.
22/3/2024 Rating announcement EN
Scope affirms Spain’s credit ratings at A-, revises the Outlook to Positive
Enhanced economic resilience and strengthening fiscal fundamentals drive the Outlook revision. High public debt, elevated unemployment, and structural budget pressure related to ageing expenditure are constraints.