Announcements

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      Instrument data
      Senority
      Senior Secured
      Currency
      EUR
      ISIN
      DE000A2YPAK1
      Coupon percent
      5%
      Coupon type
      Fixed
      Instrument volume
      600,000,000
      Maturity date
      31/12/2027
      -
      B Outlook: None
      B Outlook: None
      Latest change
      Affirmed
      28/11/2025
      General information
      Rating
      Public
      Solicited
      With issuer participation
      UK endorsed
      EU Rated
      Philipp Wass Lead analyst
      Sebastian Zank Committee chair
      Scope revises Outlook on DEMIRE’s B- issuer rating to Negative

      28/11/2025 Rating announcement EN

      Scope revises Outlook on DEMIRE’s B- issuer rating to Negative

      The Outlook revision to Negative reflects the issuer's fragile capital structure, characterised by rising leverage amid weak asset sales, which drives refinancing risk and increases the likelihood of further debt restructuring.

      Scope assigns first-time issuer rating of B-/Positive to DEMIRE

      19/12/2024 Rating announcement EN

      Scope assigns first-time issuer rating of B-/Positive to DEMIRE

      The rating is supported by the recent bond restructuring, which provides time to continue with the divestment plan to reduce leverage and stabilise the capital structure. The rating is constrained by ongoing refinancing risk.

      Date Title