Announcements

    Drinks

      Scope affirms Norwegian dairy company Tine’s A-/Stable issuer rating

      19/6/2025 Rating announcement EN

      Scope affirms Norwegian dairy company Tine’s A-/Stable issuer rating

      Solid domestic market shares and brands, low cyclicality products, and strong credit metrics providing ample rating headroom support the rating. Moderate profitability and low country diversification remain constraints.

      Scope affirms Vonovia’s issuer rating at A- and maintains Negative Outlook

      19/6/2025 Rating announcement EN

      Scope affirms Vonovia’s issuer rating at A- and maintains Negative Outlook

      The Negative Outlook continues to reflect Vonovia’s high leverage and the risk that the loan/value ratio remains above 45%, despite ongoing asset disposals, deleveraging measures and improved market conditions.

      Scope places Deutsche Konsum REIT-AG’s C issuer rating under review for a possible downgrade

      18/6/2025 Rating announcement EN

      Scope places Deutsche Konsum REIT-AG’s C issuer rating under review for a possible downgrade

      The rating action reflects Scope’s view that DKR’s planned debt-to-equity swap is a distressed exchange to avoid a default, imposing a loss of value for creditors and potentially qualifying as a Selective Default under Scope’s definitions.

      Scope downgrades investment holding company Forrás Nyrt.’s issuer rating to B/Stable from B+/Stable

      18/6/2025 Rating announcement EN

      Scope downgrades investment holding company Forrás Nyrt.’s issuer rating to B/Stable from B+/Stable

      The downgrade reflects a deterioration in the financial risk profile. The cancellation of dividend and interest payments by holdings has resulted in a lower-than-expected accumulation of recurring cash income, causing total cost cover to fall below par.

      Scope downgrades Hungarian HR services Pannon-Work Zrt.’s issuer rating to B/Negative from B+/Stable

      18/6/2025 Rating announcement EN

      Scope downgrades Hungarian HR services Pannon-Work Zrt.’s issuer rating to B/Negative from B+/Stable

      The rating action follows a rapid deterioration in credit metrics amid operational disruptions in HR services and concerns regarding a potential recovery.

      Scope downgrades investment holding company AEI to B- from B+ and places all ratings under review

      18/6/2025 Rating announcement EN

      Scope downgrades investment holding company AEI to B- from B+ and places all ratings under review

      The downgrade reflects the weaker business and financial risk profiles, while the under-review placement is based on pending refinancing risks in December 2025 that have only been partially addressed.

      Scope upgrades Uniper's issuer rating to BBB with a Stable Outlook

      17/6/2025 Rating announcement EN

      Scope upgrades Uniper's issuer rating to BBB with a Stable Outlook

      The rating action reflects a further improvement in the utility’s financial risk profile coupled with a gradual business model shift towards low-carbon, contracted activities.

      Scope has updated its analytical report on Lexholding Zrt.

      16/6/2025 Monitoring note EN

      Scope has updated its analytical report on Lexholding Zrt.

      Following the recent affirmation of the B+/Stable issuer rating, Scope has updated its analytical report on Lexholding Zrt.

      Scope downgrades GTC’s issuer rating to B+ from BB+, places it under review for a developing outcome

      11/6/2025 Rating announcement EN

      Scope downgrades GTC’s issuer rating to B+ from BB+, places it under review for a developing outcome

      The downgrade reflects reduced debt protection post German residential acquisition and inadequate liquidity. The under-review status reflects heightened refinancing risk.

      Scope affirms BB-/Stable issuer rating of real estate and financial broker Duna House

      11/6/2025 Rating announcement EN

      Scope affirms BB-/Stable issuer rating of real estate and financial broker Duna House

      The affirmation is based on the issuer's proven capacity to manage leverage effectively through robust EBITDA growth.