Category: Actions
-
Scope goes to the upper limit
The Berlin rating agency Scope has affirmed its BB issuer rating and BB rating for senior unsecured debt on JSC Evex Hospitals (Evex) with a Stable Outlook. The affirmation is based on several factors: The Stable Outlook reflects Scope’s expectation of a revenue recovery, the company’s ability to maintain its margins, and the successful transition…
-
A doubtful future in Sweden
Evolution from stable to negative, as expected (see RATING.REPAIR): Ilija Batljan Invest AB (IB Invest) is a Swedish holding company with a dominant core holding in SBB i Norden. SBB i Norden is a real estate company or an entity involved in real estate investments. The company has recently proposed postponing its dividend payments, leading…
-
Descent as expected
Credit rating agency S&P Global Ratings has downgraded Samhallsbyggnadsbolaget i Norden AB (SBB), a Swedish landlord, to ‘BB+’ from ‘BBB-‘, due to high leverage and tightening liquidity, and assigned a negative outlook. SBB’s committed credit facilities have halved in the first quarter and the company has significant short-term debt maturities of over SEK 14 billion…
-
Scope Downgrades Ilija Batljan Invest AB to BB+/Stable from BBB-/Stable
Ilija Batljan Invest’s deteriorated total cost coverage and increase in leverage, which Scope does not expect to recover in the short-to-medium term, drive the downgrade. It happened the way it had to. Here on RATING.REPAIR, we pointed out two years ago that the rating of this company needs to be repaired. Scope Ratings GmbH (Scope)…
-
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…
-
New Senior Secured Corporate Bond and Redemption of Existing Bond
The processes require detailed examination by the credit rating agencies. Here it must be clarified whether the transaction will result in an upgrade or a downgrade, or whether it will have no impact on credit ratings.
-
It Happened the Way it Had To
The news is not entirely unexpected, as this company became a case for RATING©REPAIR some time ago (see here). Samhällsbyggnadsbolaget i Norden AB (publ) (SBB) is now taking measures to prevent the credit rating from slipping after all. Now the company is selling two properties in Norrtälje for an agreed property value of approximately SEK…
-
To Say Goodbye to Russia, There Is Still an AAA
A 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…
-
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…
-
Third Bond from Photon Energy N.V.
The third bond from Photon Energy N.V., a family-run, listed Dutch developer and operator of solar power plants for its own electricity production and for third parties, is new to the URA observation. “In addition,” adds Jens Höhl, Managing Director of URA Research GmbH, “there have recently been activities such as electricity storage and water…
-
After the Raid on the Ministry of Finance
SPD candidate for Chancellor Olaf Scholz is under pressure The “governance” criterion plays an important role in ESG ratings for states. Not only credit ratings are influenced by good governance. Finance ministries have a crucial role in this. The Osnabrück public prosecutor’s office searched the Federal Ministry of Finance in Germany this week. The Federal…
-
A Supermarket Portfolio Not so Super
A B (Single B) is shown on the Expo rating scale. In his Investmentcheck-News KW 36/2021, Stefan Loipfinger comes to a different conclusion, mainly due to the lack of willingness to provide information. The Exporo classification measures the relative risk using important criteria that are of great importance when making an investment decision in the…
-
Failsafe Test Case to Be Averted
Transactions of Lang & Schwarz Aktiengesellschaft are the subject of a tax audit, reports the company in a publication of inside information in accordance with Article 17 of Regulation (EU) No. 596/2014. The subject of the tax audit is an examination of the business of Lang & Schwarz Aktiengesellschaft in the financial years 2007 to…
-
Rating Actions in the Greensill Bank Case
-
The Greatest Risk Was Not Reported
-
Artec Technologies Upgraded
Artec technologies AG (ISIN DE0005209589) is once again awarded an eligibility status for central banks by the Deutsche Bundesbank as part of the current creditworthiness analysis. “The credit rating is comparable to an investment grade rating from Standard & Poor’s according to the S&P’s rating scale, the credit rating for artec has been raised from…
-
After Greensill, Scope Ratings Also Fails at UniCredit
A skipped coupon payment is not at all typical for a bank rated “A”.
-
Do Not Confuse Moody’s with Scope Ratings
A bond fund rating is not a bank issuer rating.
-
Unique Multi-layered Ownership Structure at Scope Ratings
In a week, the search queries for the Scope scandal have increased significantly.
-
German Authority Gives No Mercy to Insider Trading
On January 27, 2021, the Federal Financial Supervisory Authority (BaFin) reported an employee of the securities regulator to the Stuttgart public prosecutor on suspicion of insider trading. The employee had sold structured products with the underlying Wirecard AG on June 17, 2020. On June 18, 2020, Wirecard AG made public that it was not yet…
^^^ RATING EVIDENCE GmbH 