28 April 2020 / Company news

Swedish central bank accepts Scope’s credit ratings within framework for commercial paper purchases

Sveriges Riksbank has included credit ratings from Scope Ratings in its framework for purchases of commercial paper of Swedish non-financial corporates.

The Riksbank decided to expand its bond purchases in March 2020 to mitigate the effects of the coronavirus health crisis on the Swedish economy. The central bank started to purchase commercial paper on the secondary market in April. To be eligible for the new programme, issuing companies must have a credit rating corresponding to Baa3/ BBB- or higher. Scope, the leading European rating agency, is listed among the selected five credit rating providers as of 24 April 2020.

“The Riksbank’s decision to include Scope credit ratings on its list of five approved rating providers is excellent news for Swedish corporates wishing to obtain a rating with a European rating agency.” says Petter Kristiansen, Scope’s Regional Head Business Development Nordics and adds: “Investors will also benefit from greater transparency and a distinctive European perspective on credit assessment.”

Scope Group is Europe’s leading provider of independent ratings, research and risk analyses across all asset classes. The group has served Nordic issuers and investors from its office in Oslo since 2017. Scope is headquartered in Berlin, with other offices in Paris, London, Madrid, Milan and Frankfurt.

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