Category: Reports
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Local Supply Real Estate in Great Demand – But How to Invest?
A Berlin rating agency is dealing with the far-reaching change in the use of retail real estate: “The local supply sector is one of the winners. Investors appreciate its independence from economic cycles. There are still challenges – sustainability is one of them,” says the research of the Scope Fund Analysis. Scope sees the reason […]
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Seal of Creditworthiness in a Changed Market Environment
Scope 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 […]
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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 […]
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ECB Sidelines Private Investors
In 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 […]
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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 […]
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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 […]
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Mario Draghi’s Repeated Flashes in the Pan
Largely unnoticed, Italy’s stock market is currently changing from an ugly duckling to a proud swan, or rather to a hidden champion in international comparison. Or is this just a flash in the pan, like the one that the President of the European Central Bank has already kindled for all of Europe? This change is […]
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China Has Already Achieved its Goal for 2021
“The growth of the Chinese economy was quite robust in the second quarter with a plus of 1.3 percent, but will slow down noticeably in the third quarter.” This is what Axel D. Angermann writes, who, as the chief economist of the FERI Group, analyzes the economic and structural developments in all of the markets […]
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Big International Banks Kept Beauty
In its 2021 banking study, the independent Swiss credit research institute Independent Credit View AG (I-CV) examined the global banking sector. A universe of 47 credit institutions in 16 countries – including the D-A-CH region – was scrutinized using a comprehensive analysis with a stress test. The good news is that the major international banks […]
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Investment Grade Møller Mobility
Møller Mobility thrives in symbiosis with Volkswagen. Nordic Credit Rating (NCR) assigned a ‘BBB-‘ (that reads triple B minus) long-term issuer rating to Norway-based car importer and retailer Møller Mobility Group AS (Møller Mobility). The rating agency’s outlook for this credit rating is stable. At the same time NCR assigned an ‘N-1+’ (that reads N […]
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Requirements Relating to Press Releases or Reports
The text of publications must meet strict requirements. The European Securities and Markets Authority considers that a credit rating or rating outlook should be accompanied by a press release or report. The press release or report should explain the key elements underlying the credit rating or rating outlook. At least the following elements should be […]
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Modular Market Reports – New Product From Industrialport
“The current Corona development and the associated lockdowns were a real blessing for industrial real estate in 2020”, writes Peter Salostowitz, Managing Director of Industrialport GmbH & Co. KG and lecturer for PropTech and Entrepreneurship at the Fresenius University, the test winner “Private Business Universities “. “Hardly a week went by in 2020,” says Peter […]
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Why Art Rating Criteria Need to Be Repaired
The Artprice Report, covering 20 years of Contemporary Art auction history, is a basis for understanding why evidence-based “art rating” is more important and urgent today than ever before. The complexity and global nature of the art market has never been greater. In the last two decades, decisive impetus came from China. “In 20 years,” […]
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German Medium-Sized Bond Issuers Avoid German Government Loans
The financial reports of medium-sized bond issuers in Germany published in 2020 were evaluated and analyzed by URA Research. The URA ratings for 7 bonds were confirmed. According to the report from Munich, the assessment has improved for 1 bond and deteriorated for 10 bonds. The 3rd bond from Karlsberg Brauerei GmbH and the 6th […]
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Rating Repair of a German Hotel Consulting Company’s Credit Report
How does rating repair work in practice? The following is an example. A full rating repair needs even more than shown here, but this real example of a real company gives a first impression of what it’s all about. Rating repair differs considerably between different size classes of companies, type of organization, legal form, industry, […]
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Rating German Care Industry
In Germany, very tenth inhabitant will be at least 80 years old in 2060. The German care industry will soon face a very high investment requirement. By 2060, more than 5,800 additional full-time nursing home places might be needed each year. The 65-year-olds and older people are steadily increasing. Immigration and a rising birth rate […]
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