Fitch’s decision to confirm its ratings reflects:
- The audited financial accounts for the three years to 2018 show an unleveraged, stable and profitable company
- The robust boarding process which, thanks to detailed quality controls and rigorous boarding times, has allowed the Company to acquire important volumes guaranteeing the quality of the service
- The quality and efficiency of the IT system (Phoenix), which allows (i) the processing and automatic monitoring of the Business Plans, (ii) the recording on a single system of the judicial and extrajudicial activities carried out for the recovery of credit from all professionals involved (loan managers, lawyers, technicians, real estate advisors, master servicers, etc.), (iii) the registration of cadastral data and the values of property guarantees and (iv) the automatic checks on the consistency and completeness of the information with the generation of alerts
- The efficient centralized management of suppliers and other functions that allow the Company to leverage on Prelios Group’s experience
- The presence of the three lines of Control as well as the introduction of a Risk Appetite Framework system that responds to the need to take and manage the risks associated with lending with awareness, standardizing the monitoring processes
- The quality of the Business Continuity and Disaster Recovery Plan which enabled effective management of the coronavirus pandemic
- Adequate cybersecurity and information security processes, which include regular penetration testing and vulnerability assessments