Zenith Service, a financial intermediary active since 1999, has received a Strong rankings, the highest level of assessment, with a stable outlook for all asset classes (RMBS – CMBS – ABS – NPL). The Master Servicer, which has about 34 billion assets under management, is thus confirmed as Strong for the fourth consecutive year. The previous assessment, published on July 9, 2019 also gave the company a Strong ranking.
Zenith Service – reports the international rating company – has consolidated its leadership position in the Italian master servicer market by continuously attracting and absorbing new business, while maintaining high service standards. It has successfully managed changes in ownership while consistently performing positively. The Servicer constantly invests in IT to keep its Master Servicing platform up to the best market standards
Among the main reasons mentioned by the rating agency:
– The Servicer’s long track record managing a growing master serviced portfolio, which demonstrates Zenith’s robust ability to attract new business and smoothly absorb it within its operations;
– Senior and middle management’s solid experience and tenure levels, as well as low staff turnover rates in line with peers or lower;
– The servicer’s effective internal controls system, based on the three lines of defense model;
– The IT system’s capability to handle an ever-growing portfolio efficiently along with continuous IT investments;
– Well-designed subservicer oversight program, which includes a new and more effective data collection procedure for due diligence.
“I am pleased with this important recognition – said Umberto Rasori, CEO of Zenith Service – obtained after two very complex years due to the pandemic. Once again it has been recognized our commitment to grow and to do so in a structured and planned way, making the necessary changes to improve the efficiency of the organization, the adequacy of business processes and the high standard of our infrastructure”.