Scope Group, a European leading provider of independent credit ratings, ESG and fund analysis, has acquired Euler Hermes Rating as of 1 January 2021.
“The acquisition of Euler Hermes Rating is another step towards consolidating the European ratings market and building a European rating heavyweight,” says Florian Schoeller, founder and CEO of Scope Group.
Euler Hermes Rating is a unit of Allianz SE’s credit-insurance arm Euler Hermes. The firm’s analytical focus is primarily on small and medium-sized enterprises (SME) and infrastructure project finance.
“Given its focus, Euler Hermes Rating is well positioned in segments with rising investor demand, and offers clear synergies with Scope Group,” says Schoeller.
Debt investors are increasingly focused on project finance and SMEs in their search for alternative assets and yield. At the same time, European institutions are improving capital market access for SMEs and infrastructure projects through the Capital Markets Union (CMU).
The goal of the CMU – creating a strong and unified EU capital market – is of significant strategic importance for Europe’s economy.
“In this context, we offer investors and issuers a European perspective on both credit and ESG,” says Guillaume Jolivet, COO of Scope Group. “Our rating approaches and methodologies are based on a deep understanding of European realities which is why we are so pleased to welcome Euler Hermes Ratings’ team of analysts to Scope. They have long-standing experience in rating European SMEs and in particular mid-cap companies which perfectly complements our own credit rating expertise.”
Euler Hermes Ratings will operate under the new name of Scope Hamburg GmbH and will be integrated into the Scope Group.