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5/12/2024 Research EN
Sovereign Outlook 2025: robust fundamentals, rising fiscal pressures and geopolitical uncertainty
Normalising global economic fundamentals partially offset rising fiscal pressures and geopolitical uncertainty in 2025, ensuring a balanced overall sovereign credit outlook, says Scope Ratings.
21/11/2024 Research EN
Supranational Outlook 2025: credit quality remains strong amid rising geopolitical challenges
The credit rating Outlooks for supranational institutions and multilateral development banks (MDBs) rated by Scope remain Stable, signalling that risks facing the high-rated issuers are balanced going into the new year despite geopolitical uncertainties.
14/11/2024 Research EN
France’s credit strengths balance increasingly challenging fiscal, political outlooks
As challenging as France’s fiscal and political outlooks are, the country’s underlying credit strengths include a favourable profile of government debt – for which there is ample investor appetite – a resilient economy and well-capitalised banks.
7/11/2024 Research EN
Germany: stable government needed to address shifts in US policy and raise growth outlook
Germany needs a stable and reform-oriented government to respond to the impact of president-elect Donald Trump’s potential policy shifts that will impact Germany’s trade, fiscal and defence policies.
7/11/2024 Research EN
US: clear Trump victory raises medium-term credit risks despite reduction of near-term uncertainty
Donald Trump’s emphatic victory in the US presidential elections is net credit negative for the US in the medium term by raising financial risks although nearer-term implications for the economy are more mixed.
1/11/2024 Research EN
UK: budget aims for growth but easing of fiscal rules raises credit concerns
The UK budget sets an ambitious growth-oriented approach, but questions remain over its ability to meaningfully boost long-run economic growth. The easing of budgetary constraints and reduced monetary flexibility pose credit challenges.
28/10/2024 Research EN
United States: debt-ceiling crises and fiscal imbalances cloud outlook despite strengths
Public finances in the US remain the main macro-economic challenge, which, in the context of the country’s flawed fiscal framework and political polarisation, will continue to deteriorate, but to different degrees depending on the election outcome.
24/10/2024 Research EN
Greece: Continued debt reduction supports favourable credit trajectory
The Positive Outlook on Greece’s BBB- ratings is underscored by falling public debt, a more resilient banking system, and structural reforms to tackle economic vulnerabilities. Our baseline is for primary budget surpluses to be sustained in coming years.