Elevated geopolitical tensions, deeper political polarisation and persistent fiscal challenges outweigh the potential for stronger growth and instances of fiscal resilience, driving our overall negative sovereign credit outlook.

France’s intrinsic resilience underpins our four-notch rating differential with Italy, as similar funding conditions contrast with different budgetary dynamics and governance challenges, although rating convergence is now more likely in the years ahead.

Tuesday, November 25th 2025 - 3:00 PM (CET)

Scope has published the annual update of its General Project Finance Rating Methodology. The changes are mainly editorial and aimed at providing further clarity and ensuring consistency with Scope’s other rating methodologies and rating definitions.

Scope seeks market participants’ feedback on analytical developments

Europe is seeing rapid growth in data centres – facilities notorious for high resource consumption – often in regions already facing water stress. The trend adds a significant sustainability challenge on top of the data centres’ heavy energy consumption.

Webinar: Wednesday, November 5th 2025 - 3:00 PM (CET)

The claim that Europe’s gradual economic and geopolitical decline is irreversible is overstated. But it will require a strategic political shift to change the current trajectory.

Climate change can materially affect the creditworthiness of all issuer types and asset classes, so we have harmonised our general framework for capturing this risk, which can be applied to produce issuer-specific Key Climate Risk Indicators (KCRIs).

With only slowly recovering economic growth and structurally high interest costs, Hungary needs sustained fiscal discipline to ensure budget deficits narrow gradually and debt-to-GDP stabilises before and after parliamentary elections due next spring.