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      Russia: tougher sanctions widen disconnect between rouble and economy, increasing retaliation risk

      10/5/2022 Research EN

      Russia: tougher sanctions widen disconnect between rouble and economy, increasing retaliation risk

      The Russian rouble’s fortunes are increasingly disconnected from the health of the Russian economy as international sanctions tighten in response to the war in Ukraine, says Scope Ratings.

      Scope updates its rating definitions

      9/5/2022 Research EN

      Scope updates its rating definitions

      Scope updates and clarifies its definition of default and long-term vs short-sterm correspondance table. This update does not impact any outstanding credit ratings.

       EU retains multibillion-euro spare funding capacity to further support member states, Ukraine

      9/5/2022 Research EN

      EU retains multibillion-euro spare funding capacity to further support member states, Ukraine

      The EU (AAA/Stable) could provide Ukraine with at least EUR 10-12bn in direct emergency support, reflecting its considerable financial buffers to offset, at least partially, the impact of the war with Russia, says Scope Ratings.

      EU’s oil embargo proposal strikes delicate balance; Hungary risks further isolation

      6/5/2022 Research EN

      EU’s oil embargo proposal strikes delicate balance; Hungary risks further isolation

      The EU’s proposal to temporarily exempt landlocked member states like Hungary and Slovakia from its planned Russian oil embargo provides extra time to switch to alternative energy sources at the risk of retaliation from Russia.

      Italy: lower growth, higher inflation than euro area peers, yet EU funds should avert stagflation

      6/5/2022 Research EN

      Italy: lower growth, higher inflation than euro area peers, yet EU funds should avert stagflation

      Italy faces a period of low growth and high inflation due to its manufacturing-based economy’s reliance on Russian energy and vulnerability to volatile raw material prices and disrupted supply chains, but stimulus from EU funds should prevent stagflation.

      Scope publishes an update to its Government Related Entities Rating Methodology

      6/5/2022 Research EN

      Scope publishes an update to its Government Related Entities Rating Methodology

      Scope Ratings has published an update to its Government Related Entities Rating Methodology. The update strengthens, refines and further clarifies Scope’s analytical approach.

      Finland, Sweden: Covid-19 resilience creates buffers against conflict costs and geopolitical risks

      4/5/2022 Research EN

      Finland, Sweden: Covid-19 resilience creates buffers against conflict costs and geopolitical risks

      Covid-19 left a relatively short-lived mark on the economic and fiscal outlooks of Finland and Sweden, which are well positioned to face the economic impacts of war in Ukraine. Exposure to geopolitical risks is now at the top of government agendas.

      President Macron faces narrow path to reform given less favourable socio-economic conditions

      3/5/2022 Research EN

      President Macron faces narrow path to reform given less favourable socio-economic conditions

      Unaddressed structural challenges and external shocks underpin the importance of reforms for France’s credit outlook. But growing social discontent and a less buoyant economic environment could weaken the possibility of new reforms.

      Russian gas stoppages stress EU’s political unity and economic outlook, accelerate Russian gas exit

      2/5/2022 Research EN

      Russian gas stoppages stress EU’s political unity and economic outlook, accelerate Russian gas exit

      Diverging approaches among EU member states to Russia’s terms for gas payments risk undermining the EU’s political unity at a time when solidarity and co-ordination are critical to meet energy needs and cushion inflationary pressures.

      Hungary: triggering EU conditionality mechanism could lead to major funding cuts

      29/4/2022 Research EN

      Hungary: triggering EU conditionality mechanism could lead to major funding cuts

      Hungary could face major cuts in EU funding for breaching the rule of law as the EU activates the conditionality principle in its budgetary framework. This could improve the use of EU funds across countries, strengthening governance in the medium term.