Scope gets equal treatment
The credit ratings of newcomer Scope will be treated on a par with the other four main agencies. This means its top triple-A rating assessment will count as credit quality step one, as opposed to step two, a category that would have caused investors to apply a prohibitive risk weight equivalent to a single-A rated bond from the other rating agencies. Karlo Fuchs, head of covered bonds at Scope Ratings in Germany, talks to The Cover about this important development.
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