Tuesday, October 17th 2023 - 2:00 PM (CEST)

The improved Outlook is based on the company’s improving profitability aided by an upcoming reduction of telecoms taxation in Hungary.

Tranches C and D have been fully redeemed.

The rating action reflects the improved standalone credit quality largely balanced out by the lowered rating uplift relating to Uniper’s status as a government-related entity.

Finland's wealthy economy, high government debt affordability and effective institutions are credit strengths. A moderate growth potential, rising fiscal pressures and exposure to financial stability risks are challenges.

Strong budgetary performance, ample liquidity, a sustainable economy and a well-integrated institutional framework support the rating. A high debt stock, limited revenue flexibility and limited expenditure flexibility are challenges.

The presence on Macrobond and Eikon improves investor access to Scope’s economic forecasts for 40 countries, including EU member states, the United States, China, Japan and the UK. Scope has also joined the Reuters consensus forecasting group.

The periodic review has resulted in no rating action.

Net interest margins in domestic retail banking are being squeezed but net income will remain in an acceptable range for 2023, thanks to low cost of risk, solid contributions from other business lines and limited growth in expenses.

Italian NPL collections fell 11% month over month and were 22% and 15% lower than those registered in July 2022 and 2021. Low volumes partly reflect seasonality effects but also the relatively muted activity already observed in the first half of the year.