Category: Reviews
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Financial Turbulence Surrounds Akelius: Fitch Ratings’ Concerns and Controversial Academedia Stake Acquisition
In the midst of financial turbulence, Akelius Residential Property AB faces scrutiny on multiple fronts. Fitch Ratings recently revised the Outlook on Akelius’s Long-Term Issuer Default Rating (IDR) to Negative, citing concerns about the proposed extra class A dividend and its potential impact on liquidity. This development takes place concurrently with Akelius Foundation’s controversial acquisition…
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Deutsche Konsum REIT Faces Further Downgrade After Failing to Impress at Deutsche Börse’s Equity Forum
Deutsche Konsum REIT-AG (DKR), a German commercial real estate company, is grappling with a challenging financial situation, prompting Scope Ratings GmbH to downgrade its issuer rating from BB+/Stable to B. The recent disappointing performance at Deutsche Börse’s equity forum has exacerbated the company’s troubles, and the latest message from Scope further underscores the severity of…
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Scope Affirms A+ Rating for SPIRE Series 2022-308: A Closer Look at the Optimism
Scope Ratings GmbH recently affirmed an A+ rating for Single Platform Investment Repackaging Entity SA’s (SPIRE) Series 2022-308 notes, a EUR 120.9 million issuance of repackaged installment notes of Czech collateral due in 2032. The rating action, conducted on July 27, 2023, highlights Scope’s positive outlook on the credit quality and characteristics of the underlying…
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Political Risks Cast Shadows on ORF’s Ratings Outlook
Österreichischer Rundfunk Stiftung öffentlichen Rechts (ORF), Austria’s public service broadcaster, has recently received an Outlook revision to Negative from Stable by Scope Ratings GmbH (Scope). While the rating agency has affirmed ORF’s AA long-term issuer and senior unsecured debt ratings, the shift in Outlook reflects the challenges posed by the political risk associated with its…
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Misinformation from Silicon Valley Bank
The Silicon Valley Bank deceives investors with excellent credit ratings, which the rating agencies have already withdrawn from the bank: https://ir.svb.com/shareholder-and-bondholder-information/credit-ratings/default.aspx
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Scope Relies on Political Intervention
“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…
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Formerly BB, Now Under Supervisor’s Scrutiny
“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…
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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.
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New Political and Economic Burdens Ignored
Scope 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.
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Where Is the Opinion of the Rating Agency
Moody’s credit ratings for MAHLE GmbH is just below investment grade, Ba1 (LT Corporate Family Ratings, since April 7, 2021). The credit rating is not on Watch, the outlook stable. Recent news could cause this situation to change. MAHLE and Matthias Arleth (54), Chairman of the Management Board and CEO, have decided to terminate their…
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Exploring the DeFi Ecosystem
Decentralized Finance (DeFi) presents limited risks to the mainstream financial system as, barring stablecoins, it is largely separate and not yet systemic in size. Nevertheless, alongside market and liquidity risks, fraud is a significant risk with DeFi transactions. While a smaller rating agency is hardly able to slow down enthusiastic investors, but – on the…
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Guard the Livinguard
Face masks change the appearance of people, but also of companies. The corona pandemic made many managers really familiar with video conferencing technologies. But it is still unusual when a member of the board of directors of a stock corporation gives its long-awaited lecture in front of around 70 participants from his moving car. He…
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Moody’s Has More Details About Greensill Bank and its Customers
The Federal Financial Supervisory Authority (BaFin) had issued a ban for Greensill Bank AG on disposals and payments as there is an imminent risk that the bank will become over-indebted. Beyond the bank, the effects must be examined.
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TV Episode on the Social Credit System in a German Soap Opera Crime Thriller
The topic of the social credit system is taken up in a humorous crime series on German state television. On Saturday, February 20, 2021, the episode is not only available online, but can also be seen on television at 8:15 p.m. on Second German Television (ZDF). The fictitious story: Georg Wilsberg (Leonard Lansink) is a…
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Grenke’s Supervisory Board Goes Into Detail
S&P’s Issuer Credit Rating of Grenke AG Rating Type Rating Last Review Date Credit Watch/ Outlook Credit Watch/ Outlook Date Local Currency LT BBB+ 10-Dec-2020 Negative 10-Dec-2020 Local Currency ST A-2 10-Dec-2020 NM 10-Dec-2020 Foreign Currency LT BBB+ 10-Dec-2020 Negative 10-Dec-2020 Foreign Currency ST A-2 10-Dec-2020 NM 10-Dec-2020 “We have heard your call for more…
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How Sustainable is Tesla’s Bitcoin Investment?
Tesla holds and may acquire digital assets that may be subject to volatile market prices, impairment and unique risks of loss. “If we hold digital assets and their values decrease relative to our purchase prices, our financial condition may be harmed.” This is the terse statement from the US automotive company on the FORM 10-K…
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Shenzhen – The World Economy of Tomorrow
You can read it in old German travel guides: Shenzhen was once a fishing village. Shenzhen is not mentioned in the five-volume “Der Neue Brockhaus” from 1975. In 1993, the renowned Brockhaus Encyclopedia reported in 24 volumes under the short keyword “Shenzhen” of only 280,000 inhabitants. Even then it may have irritated readers that the…