Announcements
Drinks
![French banks: uncertain policy agenda casts shadow over drive to improve profitability](https://www.scopegroup.com/ScopeOneApi/images/announcement-img?imageName=mitteilung_704608435a215d57ccc372cbbe7378e5cd92afd322616f0eb31f1385637ffdb1.jpg)
24/6/2024 Research EN
French banks: uncertain policy agenda casts shadow over drive to improve profitability
Heightened policy uncertainty in France and the threat of political instability after parliamentary elections have exposed the country’s banks to significant market volatility and challenged their ability to improve profitability relative to peers.
![Global economic update: soft landing reinforces prospect of higher-for-longer interest rates](https://www.scopegroup.com/ScopeOneApi/images/announcement-img?imageName=mitteilung_4038116b4e719dafa8ab194c28c8fb3479f1c7ffff89492c2a707b7d2aafe201.jpg)
19/6/2024 Research EN
Global economic update: soft landing reinforces prospect of higher-for-longer interest rates
A sustained period of higher interest rates will present a challenge for many borrowers worldwide, as economies adapt to a new era of comparatively tight monetary policy amid a recovery in growth and enduring inflation.
![Scope publishes final rating methodology on European Utilities](https://www.scopegroup.com/ScopeOneApi/images/announcement-img?imageName=mitteilung_597ee53a0fa15d417c99b98d5f3132a9d949e1fc765d989fd7194b0229850106.jpg)
17/6/2024 Research EN
Scope publishes final rating methodology on European Utilities
The methodology is now final following a call-for-comments period and will apply to all issuer and debt ratings of corporates in the sector. The application of the updated methodology will not trigger any rating changes.
![Case for cross-border consolidation remains weak; but domestic deals in Europe have potential](https://www.scopegroup.com/ScopeOneApi/images/announcement-img?imageName=mitteilung_1998e1a460a0362f2e902dcdc29edcc0b5ebb64a7ffa7ded796e85ce201bc4c5.jpg)
3/6/2024 Research EN
Case for cross-border consolidation remains weak; but domestic deals in Europe have potential
This year has seen a rise in large bank M&A, reigniting speculation that a wave of consolidation may be imminent. The case for large cross-border mergers remains weak but there is potential for domestic activity in Italy, Spain, Germany and the UK.
![Spanish banks quarterly: profitability better than expected; competitive dynamics shifting](https://www.scopegroup.com/ScopeOneApi/images/announcement-img?imageName=mitteilung_597ee53a0fa15d417c99b98d5f3132a9d949e1fc765d989fd7194b0229850106.jpg)
30/5/2024 Research EN
Spanish banks quarterly: profitability better than expected; competitive dynamics shifting
Spanish banks saw record net interest income in Q1 while the cost of deposits likely reached its peak. BBVA’s bid for Sabadell could herald a period of consolidation in a dynamic economy offering growth opportunities that could benefit pricing power.
![Scope publishes updated covered bond rating methodology and calls for comments](https://www.scopegroup.com/ScopeOneApi/images/announcement-img?imageName=mitteilung_86b9e5998d147d5fb95c81dff6f82b044d6871902bd7a5e98792bf7dc6ddef70.jpg)
27/5/2024 Research EN
Scope publishes updated covered bond rating methodology and calls for comments
Scope Ratings requests comments on its Covered Bond Rating Methodology by 27 June 2024. The proposed changes to the methodology are not expected to have an impact on outstanding covered bond ratings assigned by Scope.
![Pfandbriefe investors shielded from volatile CRE valuations](https://scopegroup.com/dam/jcr:cbce3cee-5cef-4232-ab8f-139ae6517ca9/img.jpg)
21/5/2024 Research EN
Pfandbriefe investors shielded from volatile CRE valuations
With our negative CRE outlook persisting and the collateral values of CRE loans volatile, covenant breaches are also driving up NPLs. Regulators are seeking to address value volatility, but Pfandbriefe are shielded because of cover-pool eligibility caps.
![Hungarian corporate bonds: cliff risk rises for high-yield issuers amid tough operating conditions](https://scopegroup.com/dam/jcr:3a2016bd-f71d-4e0d-96ab-e406d75aff7a/img.jpg)
16/5/2024 Research EN
Hungarian corporate bonds: cliff risk rises for high-yield issuers amid tough operating conditions
Bondholders in the Hungarian National Bank’s Bond Funding for Growth programme (‘NKP’) face a covenant-related credit challenge amid difficult domestic economic conditions, says Scope Ratings.
![BBVA’s Sabadell bid reflects solid prospects for Spanish banking sector](https://scopegroup.com/dam/jcr:e3fffa6f-9321-4ccb-9fde-b9759cd637d5/img.jpg)
15/5/2024 Research EN
BBVA’s Sabadell bid reflects solid prospects for Spanish banking sector
BBVA’s determination to pursue Banco de Sabadell and Sabadell’s confidence in its standalone strategy align with our view of the supportive banking environment in Spain, which remains an attractive market to deploy capital.