Scope Hamburg decided to introduce rating methodologies effective at Scope Ratings GmbH for the asset classes of corporate ratings. At the same time, Scope Hamburg decided to retire the remaining rating methodologies that have so far been applied in the analytical process at Scope Hamburg.
The following will be retired at Scope Hamburg
- Methodology: Issuer Rating 31 May 2016, formally amended on 14 November 2017
- Issue Rating Methodology 19 December 2014, formally amended on 14 November 2017
- Guidance Regarding the Consideration of ESG Factors in Euler Hermes Rating Credit Ratings 26 March 2020
- Guidance Regarding the Consideration of Public Support in Credit Ratings 21 January 2021.
Effective from 2 May 2022, all new ratings assigned by SH and existing corporate ratings currently assigned by Scope Hamburg will be in application of Scope Ratings rating methodologies.
Scope Group, the leading European provider of independent credit ratings, ESG analyses, and fund analyses acquired Scope Hamburg GmbH effective 1 January 2021.
Scope Group CRAs strive for a harmonization of rating methodologies, policies, processes, and procedures. Over the past year, Scope Hamburg has completed the steps necessary to integrate Scope Hamburg into the framework of rating methodologies, policies, and procedures applicable at Scope Group CRAs. Scope Hamburg focused its analytical integration steps primarily on corporate ratings with no ratings outstanding in rating classes other than corporate ratings as of the effective date of the application of Scope Ratings rating methodologies (2 May 2022).
Scope Hamburg completed an impact study that considers the application of Scope Ratings rating methodologies on issuers rated by Scope Hamburg. Ratings that are likely impacted by the introduction of Scope Ratings rating methodologies are placed under review for changes in methodologies (‘watch status’). A total of 9 issuer ratings will be placed under review for changes in methodologies. The majority of watch placements are related to a different methodology for government-related entities applicable from 2 May 2022 onwards.
Scope Hamburg will resolve the watch status within six months following the effective day of the applicable rating methodologies but strives to resolve the watch status quicker.
Scope Hamburg will make available all its rating methodologies to be retired on 2 May 2022 on its website to ensure that any rating actions preceding the adoption of Scope Ratings GmbH methodologies remain available for interested parties.