The rating agency Standard & Poor’s has confirmed Zenith Service’s rating at “Above Average” for its activity as Master Servicer in securitisations of Residential and Commercial Mortgages, SME Loans and Unsecured Loans in Italy.
The rating confirmation—as stated in a note released by the rating agency— reflects the strengthening of the managerial team and the increase in the number of mandates obtained in 2014. This is a sign of Zenith’s capacity to attract new clients. Furthermore, Zenith has improved its human resources management skills and has doubled its investment in Information Technology by introducing an application which helps streamline and standardize the entire master servicing process.
The outlook revision, from stable to positive, reflects the Servicer’s capacity to attract new business, with a steady increase in the volumes of assets under management over the past 3 years.
The agency will consider raising Zenith’s rating to “Strong” if the Servicing continues to demonstrate good progress in this area.