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      Scope proposes an update to its Sub-Sovereigns Rating Methodology and invites comments

      30/7/2025 Research EN

      Scope proposes an update to its Sub-Sovereigns Rating Methodology and invites comments

      Scope Ratings calls for comments on its Sub-Sovereigns Rating Methodology by 1 September 2025. The proposed update refines Scope’s analytical approach. No rating changes are expected as a result of this update.

      Portugal’s favourable debt dynamics set to continue despite modest fiscal loosening

      30/7/2025 Research EN

      Portugal’s favourable debt dynamics set to continue despite modest fiscal loosening

      The Portuguese government’s payment of a pension bonus this year and multiyear corporate tax cuts will not reverse the declining public debt trajectory, but diminished fiscal leeway leaves less room for manoeuvre in case of future shocks.

      EU’s sluggish economy faces moderate growth slowdown from US trade tensions

      24/7/2025 Research EN

      EU’s sluggish economy faces moderate growth slowdown from US trade tensions

      Transatlantic trade tensions are contributing to a moderate deceleration in near-term economic growth in the European Union and euro area by around 0.4pps, even in a baseline scenario of the United States and the EU reaching a preliminary trade agreement.

      Navigating China’s economic challenges: a difficult task for the PBOC

      21/7/2025 Research EN

      Navigating China’s economic challenges: a difficult task for the PBOC

      China is confronting several daunting challenges: persistent deflation, historically low interest rates, structurally declining economic growth and rising levels of government debt. This raises significant obstacles for economic stability.

      France: multi-year budget plan supports fiscal outlook but great uncertainty remains

      17/7/2025 Research EN

      France: multi-year budget plan supports fiscal outlook but great uncertainty remains

      The government’s commitment to fiscal discipline is challenged by a rising interest burden, an economic slowdown and a fragmented and uncertain political environment weighing on the country’s fiscal and reform outlook.

      Germany: Successful implementation of infrastructure investment key to growth, fiscal sustainability

      14/7/2025 Research EN

      Germany: Successful implementation of infrastructure investment key to growth, fiscal sustainability

      Germany’s ambitious defence and infrastructure borrowing plans will lead to a marked increase in its deficit and debt-to-GDP. Sustaining fiscal space over the long term will depend on associated growth effects but also pension and labour market reforms.

      Webinar: 'Big, beautiful bill' – implications for US sovereign rating

      9/7/2025 Research EN

      Webinar: 'Big, beautiful bill' – implications for US sovereign rating

      Tuesday, July 15th 2025 - 3:00 PM (CEST)

      Meeting NATO’s higher defence spending target will weigh on EU credit profiles

      30/6/2025 Research EN

      Meeting NATO’s higher defence spending target will weigh on EU credit profiles

      Achieving NATO’s higher defence spending target of 3.5% of GDP will increase budget deficits and public debt across the EU, weakening sovereign credit profiles unless governments consider a mix of spending cuts, tax hikes, and joint defence funding

      Fragile Middle East truce heightens geo-political, macroeconomic risks, including for Europe

      26/6/2025 Research EN

      Fragile Middle East truce heightens geo-political, macroeconomic risks, including for Europe

      The Israel-Iran truce fails to permanently reduce geo-political uncertainties weighing on an already subdued economic outlook for Europe, exposed to continued volatility in energy prices, but the crisis’s impact on Europe’s economy is limited for now.

      Poland: political polarisation, high deficits strain fiscal flexibility; growth remains resilient

      24/6/2025 Research EN

      Poland: political polarisation, high deficits strain fiscal flexibility; growth remains resilient

      Poland’s polarised politics and institutional tensions are hindering reforms while wide budget deficits and rising structural spending are curbing fiscal space. Still, EU funds and investment inflows continue to underpin the economy’s robust fundamentals.