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18/12/2025 Research EN
Norwegian utilities face rising capex demands while cash outflows remain constant
Norway’s power utilities are facing rising capex demands against a constant call on cash to pay dividends to municipal owners. This is creating a cash squeeze on utilities in the north of the country.
18/12/2025 Research EN
European retailing outlook: corporates face growing capex challenge amid slow growth, tight margins
The European retail sector, particularly in food and electronics, continues to face a challenging operating environment shaped by shifting consumer behaviour, rising cost pressures and investment-heavy structural transformation, says Scope Ratings.
18/12/2025 Research EN
European telecoms: leverage heads for decade low as capex downswing continues
Europe’s telecoms operators are on course to reduce leverage to the lowest level in a decade as the capex cycle continues to turn down over the next two years, assuming no major outlays on M&A and technology.
12/12/2025 Research EN
European Bank Outlook 2026: late-cycle headwinds put resilience to the test
We have a balanced base case for European banks going into 2026. Profitability is resilient, asset quality and capital buffers are solid. We have upgraded our profitability forecasts for 2026 and 2027. But several risk factors could test the outlook.
8/12/2025 Research EN
From buzz to balance: private credit faces challenges but structural growth prospects remain solid
The buzz around private credit since First Brands’ bankruptcy shows that investors need to be alert to the risks of engaging with this market. But it is also important not to exaggerate the credit risks or rate of growth of this market.
3/12/2025 Research EN
Poland unveils ambitious plans for covered bonds
The cut in minimum Long-Term Funding Ratio (WFD) requirements from 40% to 20% recommended by Poland’s Financial Supervision Authority and the inclusion of capped retail deposits come alongside bold measures to strengthen the covered bond market.
19/11/2025 Research EN
Italian Bank Outlook 2026: stable, supported by solid fundamentals, but risks remain high
Profitability is set to remain strong in 2026. Moderate loan growth, steady fee expansion and stable costs will support profits. But we are projecting an increase in provisions as default rates normalise, while economic and other risks remain high.
13/11/2025 Research EN
Bank Capital Quarterly: regulatory simplification treads a fine line
EU banks trail US peers in profitability amid rising compliance costs. So policymakers are pushing to simplify regulation. This could bring positive outcomes but the potential for missteps should not be overlooked.