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      Nordic utilities: north-south price gap benefits southern generators; TSOs also gain

      24/11/2022 Research EN

      Nordic utilities: north-south price gap benefits southern generators; TSOs also gain

      Nordic utilities will likely face a prolonged period of high electricity prices, but divergence between pricing in the north and south of Norway and Sweden favours southern generators over regulated network operators, says Scope Ratings.

      Italian NPL collections: six-month judicial proceeds and DPOs below pre-Covid levels

      21/11/2022 Research EN

      Italian NPL collections: six-month judicial proceeds and DPOs below pre-Covid levels

      Taking the last six months, judicial collections and DPOs were lower than the six months before the pandemic. Note sales have followed a more volatile path but the trend has been upward as servicers rely increasingly on this strategy to generate cash.

      Italian CQS ABS: Marzio Finance performance snapshot

      14/11/2022 Research EN

      Italian CQS ABS: Marzio Finance performance snapshot

      Scope Ratings has published the performance overview of notes issued by Marzio Finance, a EUR 10bn securitisation programme backed by ‘cessione del quinto’ and ‘delegazione di pagamento’ (CQS) loans originated by IBL Banca.

      Hungary’s corporate credit outlook: inflation, currency clouds gather after decade of fair weather

      14/11/2022 Research EN

      Hungary’s corporate credit outlook: inflation, currency clouds gather after decade of fair weather

      Hungary’s corporate sector faces a further deterioration in credit quality as soaring inflation, rising interest rates, exchange-rate volatility and uncertainty about EU funds take their toll on private and public-sector demand, says Scope Ratings.

      Scope Ratings publishes its updated Consumer Products Rating Methodology

      4/11/2022 Research EN

      Scope Ratings publishes its updated Consumer Products Rating Methodology

      The methodology is now final following a call-for-comments period and will apply to all issuer and debt ratings of consumer products corporates. The methodology update has no impact on outstanding ratings.

      Norway’s residential housing boom is over: prices starting to fall

      4/11/2022 Research EN

      Norway’s residential housing boom is over: prices starting to fall

      Norway’s house prices are falling as the economic backdrop deteriorates and the era of ultra-low interest rates ends. This will expose households to an affordability shock. Banks are entering the challenging environment from a position of strength.

      European real estate grapples with inflation, higher yields: assessing challenges for debt holders

      3/11/2022 Research EN

      European real estate grapples with inflation, higher yields: assessing challenges for debt holders

      Europe’s real-estate sector is creaking under the pressure of inflation, rising yields and slowing economic growth, all with repercussions for real-estate companies and loan markets.

      UK grocery retailers: as winter approaches, inflation bites and profitability cliff looms

      2/11/2022 Research EN

      UK grocery retailers: as winter approaches, inflation bites and profitability cliff looms

      Soaring inflation in the UK is bedevilling consumers, which could lead to changes in consumer behaviour. Grocery retailers face their own challenges, such as rising materials and energy costs.

      EU alignment strengthens Spain’s covered bond framework

      1/11/2022 Research EN

      EU alignment strengthens Spain’s covered bond framework

      Spain’s covered bond framework has been significantly improved following legal alignment with the European Covered Bond Directive (CBD). It is now stronger and more robust, reflecting significantly enhanced legal clarity and transparency.

      Italian NPL collections: notes sales exceed judicial proceeds for first time in August

      27/10/2022 Research EN

      Italian NPL collections: notes sales exceed judicial proceeds for first time in August

      Collections on Italian NPL securitisations fell 35% between July and August, following the pattern seen between the same months of 2020 and 2021. August 2022 volumes were 61% higher than August 2021 mainly because of proceeds from one large note sale.