What we do | Scope Group

Credit Analysis

Guillaume Jolivet
Head of Credit Analysis (Scope Ratings)

Matthias Böhm
Managing Director

Scope Ratings, the leading European credit rating agency, offers clients opinion-driven, forward-looking and non-mechanistic credit risk analysis, creating a greater diversity of opinion for institutional investors. Scope Ratings is a credit rating agency registered in accordance with the EU rating regulation and operating in the European Union with ECAI status. Scope presents credit research and assessments from a distinctly European perspective.

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Corporates

Olaf Tölke
Head of Corporates

Scope’s Corporate Methodology relies on a fundamental, forward-looking and bottom-up approach with three key rating sections: business risk, financial risk and supplementary key rating drivers. We strive for maximum transparency without being mechanistic. Central to our corporate ratings approach is a thorough understanding a company’s underlying drivers – for both business and financial risk – while leaving enough room for analytical opinions, regional context and common sense.

Financial Institutions

Marco Troiano
Head of Financial Institutions

The London-based financial institutions team offers investors, issuers and other market participants comprehensive and forward-looking analysis and ratings on banks and other financial institutions in Europe and beyond. The team is made up of experienced professionals with a solid background in fundamental and market-related analysis on banks and regulatory developments.

Sovereign and Public Sector

Dr Giacomo Barisone
Head of Sovereign and Public Sector

Scope’s Public Finance team provides investors with sovereign, sub-sovereign, government-related entities (GREs) and supranational credit ratings. These ratings are a forward-looking assessment of an issuer’s ability and willingness to honour its debt obligations to private-sector creditors in full and on time.

Structured Finance

David Bergman
Head of Structured Finance

Scope’s analysis of Structured Finance instruments focuses on an in-depth assessment of underlying collateral risks, counterparty risks and structural risks. The analysis of qualitative factors plays a crucial role in assigning a structured finance rating.

Infrastructure and Project Finance

Torsten Schellscheidt
Head of Infrastructure and Project Finance

Scope’s infrastructure and project finance ratings focus on the expected loss for an investor on a debt instrument issued in a project finance transaction. This is an innovative credit risk approach, which gives a valuable alternative to existing credit opinions in infrastructure and project finance.

Risk Solutions

Michael Baker
Head of Risk Solutions

Scope Risk Solutions (SRS) gives clients the tools they need to produce credit assessments in an efficient and scalable manner, leveraging the methodologies and solutions available within the wider Scope Group as well as the team’s extensive credit expertise. Tools include Scope Credit Models for most asset classes, out-sourced credit assessments such as Assessments of Credit Risk, and ScopeOne Risk Solutions, the sophisticated credit risk assessment workflow platform.

ESG Analysis

Said Yakhloufi
Head of ESG Analysis (interim)

Scope offers ESG impact analysis, based on a macroeconomic quantitative model that captures a company’s entire supply chain. Scope applies a modular approach with each stage building on the previous one to build a framework with increasing levels of precision. Scope’s ESG solutions serve the needs of investors and issuers alike.

Following the same macroeconomic approach, Scope analyses the carbon footprint of individual companies or portfolios of companies. The Scope ESG approach also addresses the new standards defined by the EU’s Technical Expert Group on Sustainable Finance in using a sector-based framework that assesses the sustainability of economic activities to identify companies’ environmental impact.

In addition, Scope provides Second Party Opinions on an issuer’s capability and capacity to meet market standards on Green Bonds, Social Bonds and Sustainability Bonds.

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External review of green, social and sustainability bonds

Certifications provide transparency about an issuer’s capability and capacity to fulfil market standards with regards to the use of proceeds, the processes and the intended impact. Certification is based on the Scope ESG Impact Assessment and the Sustainability Bond Principles.

ESG portfolio analysis

Based on the Scope ESG Impact Review, we evaluate companies, irrespective of size and industry, within an investment portfolio. Portfolio analysis provides subscores for E, S and G in addition to the complete portfolio. It can also include a Carbon footprint analysis

ESG fund and management rating

The fund and management rating offers a uniform and comparable assessment of asset-management companies with regard to their sustainability expertise.

ESG impact indices

In cooperation with stock exchanges and index fund providers, Scope offers equity and bond indices based on Scope ESG Impact Analysis.

Fund Analysis

Said Yakhloufi
Head of Fund Analysis (Scope Fund Analysis)

With more than 20 years of experience, Scope Fund Analysis is the leading European provider of research and ratings on investment funds and asset managers. The team of experienced analysts provide more than 10,000 investment ratings across all major asset classes.

In addition to ratings and research, the analysts work closely with fund buyers, fund selectors and other institutional investors to support their investment decision-making. Our ratings and research are available on ScopeExplorer and are distributed to more than 12,000 subscribers.

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Mutual Funds

Scope offers comprehensive analysis of investment funds through a range of carefully selected qualitative and quantitative indicators. Our analysts focus on the relative performance, long-term earnings power and stability of the investment strategy underlying the funds. Scope’s fund-analysis team also assesses timing, loss and behavioural risks.

Alternative Investments Funds

Scope analysts have evaluated more than 2,500 closed-end funds across all asset classes, the primary analytical focus on real estate, renewable energies, aircraft, ships and infrastructure. In the area of open-ended real estate funds, Scope is the leading rating agency with an analysed volume of more than EUR 100 bn.

Certificates

In addition to investment funds, Scope evaluates certificates and their issuers. The outstanding volume of certificates issued in Germany is more than EUR 60 bn.

Services & Solutions

Said Yakhloufi
Head of Services & Solutions

Scope offers customised services and solutions for institutional investors and financial intermediaries to support their investment decisions across asset classes and risk categories.

Scope provides solutions that draw directly on the products and services within the group, taking regulatory requirements into account and using Scope’s broad industry coverage and risk-management expertise.

Building on over fifteen years of experience in the area of real assets, particularly real estate, Scope also develops quantitative and qualitative analysis and investment plausibility checks that address the challenges of these highly heterogenous asset classes.

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