The affirmation reflects a relatively robust yet concentrated backlog and weak credit metrics, including adequate debt protection and liquidity. The rating is constrained by the company’s small size and limited diversification.

Scope Ratings has today affirmed the BBB rating of the USD 84.5m Class A1 securities issued by Virtuo Finance SARL, maturing in 2041. The financing covers six operational photovoltaic power plants with a total capacity of 300MW located near Benban, Egypt.

The rating and Outlook reflect Air Liquide’s leadership position in industrial gases and the displayed trend on decreasing leverage.

CRE refinancing risk remains high. We still believe that 40% of fully-extended securitised loans present high or very high refinancing risks but based on recent extension requests, moderate refi risk has increased materially from 23% to 41%.

The rating affirmation factors Finbureau's initiatives to strengthen the resilience of its debt purchase and collection activities, and the maintenance of strong profitability.

Scope Ratings has updated its issuer report on Aurskog Sparebank, rated A- with Stable Outlook.

Scope has assigned a preliminary rating to the Class A-2 notes to be issued by Vantage Data Centers Jersey Borrower SPV Limited. The transaction is a securitisation of UK data centre lease receivables.

Monitoring review annoucement.

Faster growth and higher interest rates in Central and Eastern Europe have boosted the profitability of Western European banks present in the region and supported their credit profiles. The strategic case for maintaining their presence remains intact.

A strong institutional framework, excellent market access, conservative financial, debt and liquidity management, and sound economic fundamentals are strengths. Relatively high debt and some budget pressures, with moderate flexibility, are challenges.