Prelios Credit Servicing (PRECS) is Italy’s longest established operator in the Non-Performing Exposures sector
Prelios Credit Servicing (PRECS) has been a leader in the NPE, non-performing exposures sector for thirty years.
Founded in 1986 with the name of SIB (Servizi Immobiliari Banche), PRECS was the first Company in Italy to operate on behalf of primary credit institutions as a service provider in the non-performing loan sector. Thanks to a truly unique track record, it has become one of the largest, most reliable and qualified independent platforms specialized in the management of non-performing loans (Non Performing
Exposure - NPE), a true point of reference for the sector.
PRECS operates as an independent institutional financial intermediary registered in the Register of Financial Intermediaries managed by the Bank of Italy, pursuant to art. 106 of the Consolidated Italian Banking Act (TUB). The company is also an authorized operator pursuant to art. 115 of the Consolidated Law on Public Security (TULPS).
Over the years, PRECS senior management has gained extensive experience in the management, recovery and valorization of NPEs, through involvement in major Italian securitization transactions and multi-year partnerships with major Italian banks.
as of 31.12.2023
Portfolio' gross book value
as Master Servicer, Special and Corporate Servicer, RON and Calculation Agent
RSS1- e CSS1- Fitch Special Servicer
The rating refers to Fitch's review of PRECS' operations which reflects its robust non-performing loan management processes and controls, as well as its corporate governance structure, both in line with Fitch's definition of 'highest level of competence'
Standard & Poor’s
Special Servicer: Strong with outlook stable
Master Servicer: Above average with outlook stable
The rating upgrade reflects the consolidation of the Company's position in the Italian special servicing services market thanks to the servicer's long experience in managing its NPE loan portfolios associated with continuous investments in technology such as artificial intelligence solutions, framework strengthening of cybersecurity and related controls
Prelios Credit Servicing S.p.A. Via Valtellina, 15/17 - 20159 Milano C.F. e P.IVA 08360630159 Iscrizione Albo degli Intermediari Finanziari ex art. 106 T.U.B. (c.d. Albo Unico) n° 32993