The European rating agency today announced that the Bloomberg Professional service is the first financial services platform to publish its bank ratings. These currently cover over 20 of the largest European banks across eight countries in Europe.
Scope rates the credit strength, senior unsecured debt, short-term debt and subordinated debt of the banks; it also gives the outlook and individual history of each rating. As of 2015, the agency will also rate covered bonds. Scope's bank ratings cover 51 percent of total European banking by assets for a total volume of €310 billion of bank public debt.
The Bloomberg Professional service provides critical data, news, analytics, charting communication and trading tools to more than 320,000 business and financial professionals in 192 locations globally.
"Scope Ratings aims to become the European rating agency of choice, not just for European investors, but for financial professionals worldwide and with Bloomberg's reach, this further enables us to provide timely, forward-looking ratings to the global financial community,” says Torsten Hinrichs, CEO of Scope Ratings.
Scope Ratings on Bloomberg: <SCOP>
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