mannequin wearing red suit

Two Are On The Supervisory Board Of Greensill Bank. Then Why Scope Ratings And Not GBB-Rating?


A 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…

Incline Downwards


It 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…

Russia’s Credit Rating Hinges on Tougher Sanctions


Possible 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…

Little Risk of Systemic Contagion from the Evergrande Crisis


“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…

Rating Agency Violates Disclosure of Transparency Reports and More

Agencies, Authorities, Compliances, Registrations, Regulations

CRA 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)…

coins and a piggy bank

Ernst & Young No Longer Has any Equity on its Balance Sheet


Auditors 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…

germany flag

Political Network Makes It Possible


Berlin 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…

black chain

Scope’s Greensill Bank Rating Tragedy

Agencies, Authorities, Governance, Read, Regulations

The 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…

ancient architecture archway building

Clever Commission from the City of Münster in Westphalia

Agencies, Analysts, Authorities, Experts

An 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…

S&P And Moody’s Are Losing Market Share in the EU

Agencies, Certifications, Read, Registrations, Regulations

For 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…

Finma Authorized Credit Rating Agencies

Agencies, Certifications, Read, Registrations, Regulations

The 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…