13. Jun 2017 Company news
Scope strengthens sovereign ratings franchise
Under the leadership of Giacomo Barisone, the public finance team broadens its expertise with additional analysts. Sovereign ratings are currently being reviewed in line with the new methodology.
The leading European rating agency has strengthened its public finance business by significantly expanding its team and by adapting its sovereign ratings methodology to the evolving requirements of capital market participants. Ratings for all major countries worldwide are currently being reviewed and will be issued throughout the year.
"The expansion of the public finance franchise with sovereign ratings underlines the commitment of Scope Ratings to be an internationally operating, full-service rating agency", says Torsten Hinrichs, executive board member of Scope Group. "In addition to sovereign ratings, Giacomo Barisone’s team is producing research and sovereign risk analysis on key issues affecting the European economy, with a focus on structural economic issues, fiscal policy and debt dynamics, providing valuable analysis to investors."
Scope’s sovereign ratings assess a sovereign’s ability and willingness to honour debt obligations to private-sector creditors in full and in a timely manner. Scope assigns both local-currency and foreign-currency ratings, using both long-term and short-term rating scales.
Scope’s sovereign rating methodology increases the transparency of the rating process, ensures greater consistency and rigour in the analysis, introduces Scope’s dual quantitative-qualitative approach, and is underpinned by new research on sovereign and global financial stability risks that emerged after the global financial crisis. The revised methodology is available for download HERE.
Scope added 59 sovereign ratings during the integration of FERI EuroRating Services AG in 2016. Sovereign ratings are an important addition to Scope Ratings’ product portfolio, complementing the sub-sovereign, corporate, financial institutions, structured finance and project finance franchises. The agency now assesses all main rating areas on a pan-European basis. The independent assessment of sovereign default risk also provides the solid foundation for other analytical areas covered by Scope.
Giacomo Barisone leads the Public Finance team
The Public Finance team, based in Frankfurt and London, is led by Dr Giacomo Barisone, a leading expert for the analysis of sovereign risks and public finance in both advanced and emerging countries. Prior to joining Scope this year, Barisone spent five years as senior vice president at DBRS’s sovereign ratings division, where he held both management and analytical roles covering European sovereigns and supranationals. Before this he was executive director at UBS’s debt capital markets group and a vice president at Moody’s in London. He holds a PhD in Economics from the University of Exeter (UK) and a Master in Economics from the University of Glasgow (UK).
The Public Finance team
In addition to Giacomo Barisone, the team comprises experts on the analysis of sovereign creditworthiness and country risk:
Dr Ilona Dmitrieva is a director in Public Finance and based in London. Before joining Scope in 2015, she spent 10 years in total at Dun & Bradstreet, Moody’s and Fitch. John Francis Opie is an associate director working from Scope’s Frankfurt office. Prior to this he spent 20 years as a senior economist at FERI EuroRating Services AG and six years at BAK (Basel). Analyst Jakob Suwalski gained experience as a senior economist at Commerzbank and Eurohypo before switching to Scope. Associate Analyst Levon Kameryan previously worked as an economist at Deutsche Bank and the Central Bank of Armenia.
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