Economic Research
ESMA FORMALLY NOTIFIED THE RENOUNCMENT OF THE REGISTRATION AS A RATING AGENCY FOR SCOPE HAMBURG GMBH
ESMA FORMALLY NOTIFIED THE RENOUNCMENT OF THE REGISTRATION AS A RATING AGENCY FOR SCOPE HAMBURG GMBH The European Securities and Markets Authority (ESMA) formally notified Scope Hamburg GmbH (Scope Hamburg) to have renounced the registration of Scope Hamburg as Credit Rating Agency. As communicated on Feb. 20, 2023, Scope Hamburg requested the renouncement of its […]
Scope Hamburg GmbH affirms the ‘BB‘ issuer rating of Hörmann Industries GmbH and the S-3 short-term rating and withdraws the ratings
The ratings have been withdrawn for business reasons. Rating action Scope Hamburg GmbH (Scope Hamburg) has affirmed the ‘BB‘ issuer rating and S-3 short-term rating of Hörmann Industries and has subsequently withdrawn the ratings. The ratings have been withdrawn for business reasons given the termination of the rating relationship. Outlook and rating-change drivers Not applicable […]
Scope Hamburg GmbH affirms the ‘BB‘ issuer rating of Grammer AG and S-3 short-term rating and withdraws the ratings
The ratings have been withdrawn for business reasons. Rating action Scope Hamburg GmbH (Scope Hamburg) has affirmed the ‘BB‘ issuer rating and S-3 short-term rating of Grammer AG and has subsequently withdrawn the ratings. The ratings have been withdrawn for business reasons given the termination of the rating relationship. Scope Hamburg has formally notified the […]
Scope Hamburg affirms B+/Stable issuer credit rating on Hungarian logistic company Trans-Sped Kft.
The rating is mainly driven by the group’s operations within the fragmented and highly cyclical transportation industry and currently increasing corporate leverage due to ongoing growth investments along with only weak free cash flow generation potential. The latest information on the rating, including rating reports and related methodologies, is available on this LINK . Rating […]
Scope Hamburg withdraws the A+ issuer rating of Erftverband Körperschaft öffentlichen Rechts
The rating has been withdrawn for business reasons. Rating action Scope Hamburg GmbH (Scope Hamburg) has withdrawn the A+ issuer rating of Erftverband Körperschaft öffentlichen Rechts. The rating has been withdrawn for business reasons given the termination of the rating relationship. Outlook and rating-change drivers Not applicable as the rating has been withdrawn. Stress testing […]
Scope Hamburg downgrades issuer rating of KÉSZ Group from BB/Stable to BB-/Stable and affirms debt instrument ratings at BB
The downgrade is driven by the risk that credit metrics are expected to come under pressure amid mounting headwinds including inflationary supply-side pressures, decreasing gross profit margins, increasing leverage and an overall unsupportive macroeconomic mid-term outlook for the construction sector. KÉSZ’s good competitive positioning and solid contracted backlog remain supportive factors. The latest information on […]
Scope Hamburg downgrades issuer rating of German physible GmbH to BB / Stable from BBB- / Stable and unsecured bond issue rating of physible GmbH to BB+ from BBB due to downgrade of KGAL GmbH & Co. KG’s underlying issuer rating following methodology change
The downgrade of KGAL GmbH & Co. KG’s underlying issuer rating mainly reflects a change in Scope Hamburg’s assessment of corporates under the methodologies introduced on 2 May 2022. Rating action Scope Hamburg GmbH (Scope Hamburg) has downgraded the issuer rating of physible GmbH to BB / Stable from BBB- / Stable and likewise the […]
Scope Hamburg downgrades issuer rating of German KGAL GmbH & Co. KG to BB/Stable from BBB-/under review for changes in methodologies following methodology change
The downgrade mainly reflects a change in Scope Hamburg’s assessment under the methodology introduced on 2 May 2022. Simultaneously, Scope Hamburg has assigned a S-3 short-term debt rating and a senior unsecured debt category rating of BB+. Rating action Scope Hamburg GmbH (Scope Hamburg) has downgraded the issuer rating of KGAL GmbH & Co. KG […]
