DThe Berlin-based rating agency Scope has gained another supporter on its way to recognition by the European Central Bank (ECB). Groupe BPCE, the parent company of the French cooperative banks and savings banks, becomes a new shareholder. No information was given in the press release published on Tuesday about the amount of the stake or financial details. Groupe BPCE thus complements the companies that are involved as shareholders in Scope in order to enable a European alternative on the rating market dominated by the American companies S&P Global, Moody’s and Fitch.
The French insurance group Axa acquired a stake in Scope last June. Insurers such as Signal-Iduna and HDI Kapital as well as the RAG Foundation are already involved in Scope. Scope is controlled by founder Schoeller, BMW major shareholder Stefan Quandt and a foundation that has prominent members in the form of former Federal President Horst Köhler and former ECB President Jean-Claude Trichet.
“A truly European rating agency needs the acceptance and support of the most important European investors and institutions,” said Scope founder and boss Florian Schoeller, welcoming BPCE’s entry. He sees the commitment of France’s second largest banking group as proof that Scope is becoming an integral part of the European financial ecosystem. Scope has been in the ECB’s recognition process since early 2022. The European rating agency can only keep up with S&P, Moody’s or Fitch if it accepts Scope’s credit ratings.