12 October 2026
Hamburg and Schleswig-Holstein mandate Scope Ratings
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Scope Ratings has secured public rating mandates from the Free Hanseatic City of Hamburg and the State of Schleswig-Holstein. The mandates further strengthen Scope's position among Europe’s largest sub-sovereign borrowers.
Florian Schoeller, CEO of Scope Group, said: "We are delighted that Hamburg and Schleswig-Holstein have chosen Scope Ratings. These mandates underline Scope's growing relevance for issuers and investors alike and demonstrate the increasing demand for a strong European credit-rating perspective in capital markets. They also reflect the trust placed in our expertise, independence and market acceptance."
Dr. Andreas Dressel, Finance Senator of Hamburg, said: “With the AAA rating from the European agency Scope Ratings, Hamburg’s financial strength and excellent creditworthiness have now also been confirmed by a second independent rating agency. This is a strong signal, even in challenging times, and encourages us to continue on our path of investing and consolidating.”
Read the full press release of the Free Hanseatic City of Hamburg.
Dr. Silke Schneider, Minister of Finance of Schleswig-Holstein, said: “The AAA rating is a strong confirmation of Schleswig-Holstein’s financial strength and stability. It demonstrates that we are pursuing the right course with our fiscal policy and that we are recognised as a reliable partner in the capital markets. In the international competition for investment, this reliability is an important factor in the attractiveness of our location. The AAA rating therefore not only strengthens our position in the capital markets, but also reinforces international investors’ confidence in Schleswig-Holstein as an attractive and reliable investment destination.”
Read the full press release of the State of Schleswig-Holstein.
Scope rates Hamburg at AAA with Stable Outlook. Read the full rating announcement.
Scope rates Schleswig-Holstein at AAA with Stable Outlook. Read the full rating announcement.
Background: German federal states are frequent issuers in international capital markets and play an important role in benchmark transactions sought after by institutional investors. Germany's federal states are the largest sub-sovereign issuer group in Europe.
The decisions by Hamburg and Schleswig-Holstein follow a series of mandates awarded to Scope by German federal states since the agency's acceptance by the European Central Bank under the Eurosystem Credit Assessment Framework (ECAF). Together with mandates from Bavaria, Berlin, Baden-Württemberg, Hesse, North Rhine-Westphalia and Saxony-Anhalt and, Scope now rates eight Bundesländer on a mandated basis, reinforcing its role as the leading European credit rating agency.
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