May 16, 2024 15:30 (CEST)

After a strong January, EUR benchmark covered bond issuance slowed in February and March. Some of the reluctance to issue may have been driven by Germany’s specialised commercial mortgage lenders, given rising tensions in commercial real estate.

Europe’s real estate companies grapple with negative credit outlook; German banks look resilient despite CRE risks; bond market access is a differentiator for property companies; systemic risks are still high in European housing

Multiple bankruptcies in Germany’s automotive parts sector since mid-2023 are less a sign of a sector-wide crisis than the impact of a cyclical downturn and tight credit conditions on suppliers with financial and commercial weaknesses.

February 2024 Italian NPL collections of EUR 114m were 15% up month-on-month but 18% below the February average of the three previous years.

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.

The methodology is now final following a call-for-comments period and will apply to all issuer and debt ratings of European real estate corporates. The methodology might have a limited negative impact on outstanding ratings of one issuer.

Thursday, April 11th 2024 - 3:30 PM (CEST)

January 2024 Italian NPL collections of EUR 99m were 56% down month-on-month and 12% below the January average of the three previous years, continuing the declining trend observed throughout 2023.

The proposed update clarifies and further refines Scope’s analytical approach. The methodology as proposed will not have an impact on outstanding ratings.