Structured Finance

Institutional investors expect rating agencies like Scope to provide accurate ratings and quality, forward-looking credit research to facilitate their investment decisions. As a Germany-based rating agency, we aim to extend our service offering to investors across Europe and look forward to contributing to a greater diversity of opinions among rating agencies in today's capital markets.

Scope's long-term credit ratings assigned to structured finance instruments constitute a forward-looking opinion on the relative credit risks of such instruments. The rating reflects the expected loss associated with the payments contractually promised by the instrument by its legal maturity. It therefore factors in both the likelihood of a default on such payments and the loss severity expected upon default.

A decision-making tool for investors

Our ratings are designed to contribute to the efficiency and transparency of European capital markets. For institutional investors they provide decision-making support. For issuers, they facilitate access to capital markets and broaden the investor base. Investment banks and regulatory authorities use our ratings as well to measure credit risk. Scope applies the internationally recognised rating scale ranging from AAA to D. A rating does not represent a buy or sell recommendation.

Scope provides its institutional investors with a dedicated research platform with access to all ratings, regular publications and a wide range of research material.

Meet our analysts

Scope is committed to delivering rating analyses to our institutional clients on a timely basis. We therefore engage in a transparent dialogue with market participants across Europe, either in face-to-face meetings or at events. We offer tailor-made investor roundtables and seminars to inform about current credit, market and product trends.


Scope's structured finance instrument rating methodology guidelines rely on three analytical building blocks. The analysis includes a specific assessment of the underlying collateral, an evaluation of the risks related to key parties to the transactions and an analysis of the transaction´s specific structure. The result of this analysis is the computation of an expected loss figure associated with the rated instrument, supplemented by a qualitative judgment on unquantifiable risks. The rating committee generally considers the quantitative results as an anchor point for determining the rating and incorporates the qualitative elements, particularly those identified during the analysis of counterparty risks and transaction specific risks, through notching.