Search Results for: "Scope Ratings"
After Greensill, Scope Ratings Also Fails at UniCredit
ActionsA skipped coupon payment is not at all typical for a bank rated “A”.
Some City Councilors Reproach the Use of Scope Ratings Instead of S&P’s and Moody’s
Agencies, Read, Registrations, RegulationsIn the city parliament of Giessen, the processing of the affair about the threatened loss of financial investments at the Greensill Bank has begun.
Two Are On The Supervisory Board Of Greensill Bank. Then Why Scope Ratings And Not GBB-Rating?
AgenciesA Complicated Choice Between Conflicts of Interest. The rating of an independent credit rating agency is a valuable source of information also for the supervisory board of a company, especially for the supervisory board of a bank. The thoroughness of the analysis by credit rating analysts helps to understand the external view onto the company…
Scope Ratings Sluices of Money Creation
Agencies, Authorities, Registrations, Regulations
Scope Ratings Game of Corporate Law
Agencies, Authorities, WhistleblowingThe “Scope Group” is a bunch of constant changes under company law. As a result of the Scope Ratings GmbH billion Euro scandal about Greensill Bank in Bermen, which was rated as “investment grade” for the first time in 2019 and is now insolvent, the precise activities of this local rating agency in Berlin have…
Why Scope Ratings Never Cares for Profits
AgenciesThe multi-layered shareholder structure allows for an ingenious business model.
Scope Ratings’ Ancillary Services for Greensill Bank
Agencies, AuthoritiesScope Ratings’ hint to possible additional payments by Greensill Bank to the Berlin rating agency leaves questions unanswered.
Do Not Confuse Moody’s with Scope Ratings
Actions, Agencies, ReadA bond fund rating is not a bank issuer rating.
Unique Multi-layered Ownership Structure at Scope Ratings
Actions, AgenciesIn a week, the search queries for the Scope scandal have increased significantly.
Taxpayers Ultimately Become Victims of Scope Ratings
Agencies, Read, RegulationsThe Berlin rating agency Scope has top politicians on board who are already drawing high pensions. These politicians now indirectly cost the taxpayer even more.
Reach and Scope of Scope Ratings
Agencies, ReadGoogle Trends provides access to a largely unfiltered sample of actual search requests made to Google. It’s anonymized, because no one is personally identified. It is also categorized, i.e. determining the topic for a search query, and aggregated, i.e. grouped together. This way it displays interest in a particular topic from around the globe or…
A “Security” That Loses 20% in a Single Day
RepairsAround 20% fall in the stock market in a single day – that’s the report for Samhallsbyggnadsbolaget I Norden AB Class B shares today, Thursday, July 14, 2022. Stocks with such loss potential can hardly promise the security to warrant an investment grade rating for the investment company holding those stocks. “Scope affirm’s Ilija Batljan…
Incline Downwards
ActionsIt came as it had to come – there is news about this rating, reported today: The credit rating agency S&P Global Ratings today announced that they are confirming Samhällsbyggnadsbolaget i Norden AB (publ)’s investment grade rating BBB- and outlook has been updated to negative from stable. SBB has BBB-rating with positive outlook from Fitch…
Scope Relies on Political Intervention
Governance, Reviews“Uniper withdraws its 2022 financial outlook amid Russian gas supply restrictions” – That’s the title of an action-free press release from a Berlin rating agency, called Scope Ratings, today: “This monitoring note does not constitute a credit rating action, nor does it indicate the likelihood that Scope will conduct a credit rating action in the…
Formerly BB, Now Under Supervisor’s Scrutiny
Repairs, Reviews“Because the bonds purchased by the Adler Group no longer meet the requirements of the ECB, the central bank has now thrown them out of its portfolio in a move that caused a stir”, that is what the Börsen-Zeitung writes today. Only rating reports from S&P Global Ratings are available on the Adler website, the…
To Say Goodbye to Russia, There Is Still an AAA
ActionsA Russian rating agency is avoiding the issue of banks withdrawing from Russia. The Russian Analytical Credit Rating Agency ACRA affirms the AAA(RU) credit rating to SEB BANK JSC with a stable outlook: “The credit rating of SEB Bank JSC is based on the very high likelihood of extraordinary support from the parent company. SEB…
New Political and Economic Burdens Ignored
ReviewsScope affirms Ilija Batljan Invest AB’s issuer rating at BBB-/Stable. This news must come as a surprise given the current economic and political challenges that have meanwhile added to the factors that already made an “investment grade” rating seem questionable last year.
Seal of Creditworthiness in a Changed Market Environment
ReportsScope Ratings GmbH (Scope) has assigned a first-time issuer rating of BB/Stable to Luxembourg registered real estate developer MG RE Invest S.A. Scope has also assigned a first-time rating of BB to the company’s senior unsecured debt. It is a bold credit rating at a time when a whole range of general conditions for the…
Russia’s Credit Rating Hinges on Tougher Sanctions
ActionsPossible sanctions attract the attention of credit analysts. Russia’s credit outlook could be adversely affected by specific Western sanctions, in the event of a failure to defuse the crisis over Ukraine, says Levon Kameryan, Senior Analyst, Sovereign and Public Sector Ratings, and looks at the cumulative impact of existing and potentially stronger future sanctions, a…
US Agencies’ Market Shares Remain a European Debacle
AgenciesThe excessive regulation of rating agencies in the European Union (EU) has failed to achieve its goal. The dominance of US rating agencies remains. Their ratings are practically the only decisive factor for the allocation of the economic resource “capital” in Europe. The three leading US agencies S&P Global Ratings Europe, Moody’s Investors Service and…
ECB Sidelines Private Investors
ReportsIn a research piece titled “Covered bonds at a turning point?” published by Scope Ratings the dominate role of the European Central Bank (ECB) for credit rating agencies becomes once more very obvious. “The covered bond market is in upbeat mode. But while issuance has picked up significantly, public supply will remain well below the…
Little Risk of Systemic Contagion from the Evergrande Crisis
Reports“China’s ghost cities” have become a familiar trope in Western media. Beyond Kangbashi, with its other-worldly stadiums and museums, there is Chengchong in southern Yunnan province; Binhai, outside the central city of Tianjin; and Tianducheng, in the Hangzhou suburbs, with its very own replica of the Eiffel Tower. China’s ghost cities are in the news again because of the financial travails…
How Can the ECB Still Make Impartial and Objective Decisions?
OtherScope’s new Board of Trustee’s member could not only prove to be an own goal, but also bring disadvantages for competing agencies.
Rating Agency Violates Disclosure of Transparency Reports and More
Agencies, Authorities, Compliances, Registrations, RegulationsCRA Transparency Reports 2021 “Transparency Reports” of credit rating agencies (CRAs) are published in accordance with Article 12 and Annex I, Section E.III of the EU Regulation on Credit Rating Agencies: (EC) No 1060/2009 of the European Parliament and of the Council of 16 September 2009 on credit rating agencies, as amended by Regulation (EU)…
Which Rating Agencies the World is Looking for in Germany
AgenciesSome surprising observations Many Internet users do not bother to memorize the exact domain of a website, but simply enter a clear keyword into the Google search engine in order to be able to simply click on the desired result and visit the desired website. The displayed search results are therefore of great importance for…
The Only Credit Rating Agency Recognized by BaFin
Advertising, Agencies, Authorities, Registrations, RegulationsA not so unique rating agency
Beware of Shaky References
Agencies, Governance, Statistics
The “Scope Group” Has a Weakness for Hungary
Agencies, Methodologies
Credit Rating Agency Authorisation 2021
Agencies, Authorities, Certifications, RegistrationsLinks to websites of the Credit Rating Agencies authorized in the European Union. The credit rating agencies listed below have been registered or certified by the European Securities and Markets Authority (ESMA) in accordance with the Credit Rating Agencies Regulation. Domains of websites are added. According to ESMA, the list was last updated on May…
Understanding of “Diversity” in the “Scope Group”
Agencies, Directors, Governance, Models, Scores, Systems
Questionable Independence of a Rating After a Partnership Agreement
Agencies, Compliances, Governance, Histories, Registrations, Regulations
Looking for a Rating Methodology – Where?
Agencies, Authorities, Compliances, Governance, Methodologies, Registrations, Regulations
Dear Customer, Which Methodology Would You Like?
Agencies, Authorities, Methodologies, Registrations, Regulations
Rating Actions in the Greensill Bank Case
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Ernst & Young No Longer Has any Equity on its Balance Sheet
AgenciesAuditors have been making double-digit million losses for years. At Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft (EY) in Germany, “equity” is on the assets side, namely as a “deficit not covered by equity” in the amount of € 62,715,000. The provisions, liabilities, deferred income as well as deferred taxes and fiduciary obligations exceed the company’s assets…
Ilija Batljan’s Rating Shopping Spree
RepairsAre upgrades driven by improvements in creditworthiness or by hopping from agency to agency? The activities of self-made millionaire Ilija Batljan are too conspicuous to be ignored in the financial markets. Ilija Batljan came to Sweden from Montenegro. He moved to Sweden in 1993 during the breakup of his native Yugoslavia and in 1996 earned…
Insolvent Greensill Bank Relied on “Scope Risk Solutions”
Agencies, Auditors, Authorities, Regulations
The Greatest Risk Was Not Reported
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Political Network Makes It Possible
AuditorsBerlin network of politicians, raters and auditors. “Wirecard illusion factory only conceivable through political network”, is a quote from the Cicero, the German magazine for political culture. The members of the committee of inquiry have an unequivocal answer to this. The Christian Democratic Union (CDU) sees Finance Minister Olaf Scholz at the center of the…
Management Board of the Auditing Association of German Banks Changing
ReadFormer colleague of the later Greensill Bank Supervisory board member has left The Federal Association of German Banks (BdB) is drawing initial conclusions from the Greensill Bank‘s 3 billion euro compensation case. As the organization confirmed on request of the Börsen-Zeitung, it will analyze the structure of its auditing association and its staff with the…
Does the Embellished Rating Cost Jobs on Bank Boards?
AgenciesThe rating of a local rating agency does not exempt you from the responsibility to form your own judgment
First, ODDO BHF Takes the Chair, then the Scope Award
Agencies, CompliancesConflicts of interest have arisen again at a local rating agency in Berlin.
“EY puts Commerzbank in a mess”
Agencies, CompliancesConflicts of interest wherever you look.
Rating Agency, Brokers and Intermediaries Prepare for Defense in the Greensill Scandal
Agencies, Whistleblowing
Scope’s Greensill Bank Rating Tragedy
Agencies, Authorities, Governance, Read, RegulationsThe Federal Financial Supervisory Authority (BaFin) filed criminal charges Against The Bank’s Board Members. The Federal Financial Supervisory Authority (BaFin) in Germany received monthly reports from Greensill Bank AG (Greensill Bank) about the bank’s balance sheet data from January 2019 on. This is evident from the answer given by Parliamentary State Secretary Sarah Ryglewski on…
Statistical Significance of the A- Issuer Rating for Greensill Bank
Agencies, Statistics, Symbols
Man Missing At Scope
Agencies, GovernanceInconspicuous elimination of a Scope Advisory Board Member
Clever Commission from the City of Münster in Westphalia
Agencies, Analysts, Authorities, ExpertsAn automated safety net for municipal investments has not existed since 2017. If municipalities do not want to set up extensive bond research departments themselves, in which financial analysts examine thousands of qualitative data and annual financial statements from issuers of financial products, the municipalities depend on the independent judgments of reliable credit rating agencies…
RAG-Stiftung Must Have Known
Agencies, Governance, ReadScope Group is not at all related to the transformation of the regions along the Ruhr and Saar Rivers and in Ibbenbüren.
Once Advantages for Scope Shareholders, Now Disadvantages for German Banks
Agencies, Read, RegulationsIn Germany, the Greensill Bank is likely to be one of the most expensive cases ever.
Scope Group Not Within the Scope of ESMA
Agencies, Authorities, Registrations, RegulationsThe scandal surrounding Greensill Bank and the credit rating of Scope Ratings GmbH for this bank raises the question of how the situation at the Scope Group got out of control.
S&P And Moody’s Are Losing Market Share in the EU
Agencies, Certifications, Read, Registrations, RegulationsFor the first time, the European Securities and Markets Authority ESMA has reported a decline in market shares in Europe for both of the major US rating agencies. The authority thus discloses a remarkable development. Never before have the two market leaders, who have been issuing their credit ratings worldwide according to recognized standards and…
More than 300 Raters Worldwide
Agencies, Bureaus, Raters, ReadThere is a simple definition of the word “rater”: “one that rates”. A rater is specifically a person who estimates or determines a rating. Not every rater is a rating agency. In a number of countries, only legal persons can be recognized as rating agencies. In most countries, individuals are free to express their opinion…
Finma Authorized Credit Rating Agencies
Agencies, Certifications, Read, Registrations, RegulationsThe Swiss Financial Market Supervisory Authority FINMA supervises financial institutions making use of the services of Credit Rating Agencies, e.g. for the capital-adequacy calculations carried out by banks. Supervised institutions can use ratings to meet a number of regulatory requirements. In certain specific cases, only ratings from agencies recognised by FINMA may be used. The…
ESMA Authorized Credit Rating Agencies
Agencies, Certifications, Read, RegistrationsIn the period leading up to the financial crisis in 2008, 2010 and so on, the European Commission considered to strengthen the regulatory and supervisory framework for Credit Rating Agencies (CRAs) in the European Union (EU), to restore market confidence and increase investor protection: (1) The first set of rules, which entered into force at the…
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