Following the recent market developments, Scope has updated its analytical report on Eviny AS.

South Africa faces economic headwinds around growth, still-elevated inflation and a high and rising debt burden. Scope Ratings recently published BB+ ratings for South Africa – the rating agency’s first public sovereign rating in Africa.

The rating reflects strong support from the cover pool. Credit risks stemming from the mixed cover pool in combination with asset-liability mismatches drive the level of rating-supporting OC. High stakeholder cohesiveness increases the rating floor.

Scope Ratings GmbH (Scope) has reviewed the performance of BBVA RMBS 20, FT and has taken the following rating actions following a calculation error correction:

Scope Ratings GmbH (Scope) has reviewed the performance of BBVA RMBS 21, FT and has taken the following rating actions following a calculation error correction.

Scope Ratings GmbH (Scope) has assigned a final rating to the Series 10-2022 Class A notes issued by Marzio Finance S.r.l., a static cash securitisation of a EUR 269.4m portfolio of payroll-deductible loans extended by IBL Banca to individuals in Italy.

No action has been taken following the monitoring review.

Higher expected power prices create excess cash and conservative credit metrics, despite the impending increase in tax payments.

Monitoring review announcement

Ratings are supported by a wealthy, diversified economy, moderate public debt and strong external position. High private-sector indebtedness, exposure to global shocks and labour-market duality represent credit challenges.