19/4/2024 Rating announcement
Scope downgrades Estonia to A+ and revises the Outlook to Stable
A structural deterioration in the fiscal position and protracted headwinds from the Russia-Ukraine war drive the downgrade. A sound institutional framework, robust growth potential and still low public debt are credit strengths.
19/4/2024 Monitoring note
Scope has completed a monitoring review for the Swiss Confederation
The periodic review has resulted in no rating action.
19/4/2024 Rating announcement
Scope affirms and publishes the Land of Hesse’s AAA rating with Stable Outlook
Robust budgetary performance, conservative budgetary, debt and liquidity management and low contingent liability risk support the rating. Low expenditure flexibility, coupled with cost pressures, is the main credit challenge.
19/4/2024 Rating announcement
Scope affirms SAF-HOLLAND's BBB- rating, Revises Outlook to Positive from Stable
Strong market positions, a broad customer base and high aftermarket exposure support the rating. Moderate profitability and volatile free cash flow are rating constraints.
19/4/2024 Rating announcement
Scope affirms Haniel’s BBB-/Stable issuer rating
The affirmation is driven by Haniel’s consistently solid total cost cover and modest leverage, which offset credit weaknesses related to concentration risks on recurring income and asset values.
19/4/2024 Rating announcement
Scope affirms KfW's issuer rating at AAA with Stable Outlook
KfW's issuer rating is aligned with the Federal Republic of Germany's AAA sovereign rating.
18/4/2024 Rating announcement
Scope affirms GBC's issuer rating at BB-/Negative and withdraws all ratings
The affirmation reflects a resilient operating performance with stable growth. All ratings have been withdrawn due to business reasons.
18/4/2024 Monitoring note
Scope has completed the monitoring review for BCC NPLs 2020 S.r.l. - Italian NPL ABS
No action has been taken on Class A and Class B notes issued by BCC NPLs 2020 S.r.l. following the monitoring review.
17/4/2024 Rating announcement
Scope affirms Banca Popolare di Sondrio's issuer rating of BBB with Stable Outlook
Rating affirmation reflects the recent strong operating performance as well as solid asset quality and solvency metrics.
17/4/2024 Research
Middle-east crisis: geopolitics remains a downside risk for the global economic and credit outlook
A full-scale Middle-East conflict is unlikely but any further escalation of tensions would have significant adverse consequences for commodity markets and inflation, affirming geopolitical developments as a core credit challenge globally.