Announcements

    Drinks

      Scope affirms BB/Stable issuer rating on Hörmann Industries GmbH

      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.

      Scope downgrades Nitrogenmuvek to B from BB-, places it under review for possible downgrade

      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.

      Scope affirms BB-/Stable issuer rating of Infogroup Holding Kft.

      25/3/2024 Rating announcement EN

      Scope affirms BB-/Stable issuer rating of Infogroup Holding Kft.

      The rating affirmation is based on the expectation that strong operating performance will offset temporary pressure on leverage and interest cover, both driven by debt financed development activity.

      Scope affirms class A notes issued by VCL Master Sweden S.A. - Swedish Auto Lease ABS

      25/3/2024 Rating announcement EN

      Scope affirms class A notes issued by VCL Master Sweden S.A. - Swedish Auto Lease ABS

      Scope affirms class A notes and downgrades class B notes issued by VCL Master Sweden S.A. following an amendment of the transaction.

      Scope affirms Opus Tigáz’s BBB- issuer rating and revises the Outlook to Positive from Stable

      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.

      Scope affirms AAA rating of Wüstenrot’s Austrian mortgage-covered bonds, with Stable Outlook

      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.

      Scope has completed a monitoring review for the Kingdom of Denmark

      22/3/2024 Monitoring note EN

      Scope has completed a monitoring review for the Kingdom of Denmark

      Monitoring review announcement.

      Scope affirms the sovereign rating of Japan at A and revises Outlook to Stable

      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.

      Scope affirms Spain’s credit ratings at A-, revises the Outlook to Positive

      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.

      Scope has completed a monitoring review for the Kingdom of Norway

      22/3/2024 Monitoring note EN

      Scope has completed a monitoring review for the Kingdom of Norway

      The periodic review has resulted in no rating action.