Infrastructure debt proved to be a highly resilient asset class throughout the 2020/21 pandemic crisis. In this context, we expect that issuers of crossover-rated infrastructure debt (low BBB to mid BB) will gain attraction. Download the report “As a result of the prolonged low interest-rate environment, investors with long-term liabilities (e.g. insurers, pension funds) are […]
Credit risks are rising medium term for Europe-based auto parts suppliers, with a decade-long trend of rising leverage and declining profitability set to continue this year amid the twin challenges of digitalisation and sustainability, says Scope Hamburg. “The automotive industry is facing a historic reorganisation. In the dramatic transition to digital and more sustainable manufacturing, […]
Germany’s municipal utilities face slimmer profit margins and growing pressure on credit quality as they contend with shifting patterns in energy consumption, tougher environmental regulations and fall-out from the pandemic. Download the report “The country’s 50 biggest municipal utilities face significant future capex as Germany has adopted stringent carbon-dioxide reduction targets just as competition intensifies […]
The Covid-19 pandemic has accelerated the change of consumer habits and the digitalisation of media consumption, with consequences for the credit outlook for the traditional media sector – not least in Germany. DOWNLOAD THE REPORT “The structural challenges that media companies have faced for a long time have intensified amid the Covid-19 pandemic and all […]
Loose monetary policy and government bailouts in response to the pandemic have accelerated corporate zombification just as insolvencies have declined sharply and decoupled from economic developments. This poses significant risks to the European economy. DOWNLOAD THE REPORT Zombie companies have increased significantly in recent years and there has been a greater persistence in zombification, with […]
Euler Hermes Rating published Special Comment entitled „Offshore wind opens up new opportunities as a new asset class“. (…).
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For a number of years, the airline industry has grown at a disproportionately faster rate relative to global GDP growth. This is primarily due to the increasing globalisation of markets, whereby the mobility of people and goods is gaining greater importance. (…)
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The german food retail industry is facing a fundamental, structural change in the wake of digitilization. The Analysts of Credit Rating Agency Euler Hermes Rating come to this conclusion within the scope of a recently published study „The retail food industry 2.0 – an apple is not a sweater, right?“. Based on an analysis of social and digital behavior patterns the study aims to examine how the food purchasing process will develop and in how far food retailers will have to adjust their business model.
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