Milan, 21 June 2017 - Prelios Credit Servicing (PRECS), an independent, institutional and regulated company of the Prelios Group specialized in the management of non-performing loans, received by Fitch Ratings confirmation, respectively, of rating “RSS2+” and “CSS2+” as special servicer of residential and commercial mortgage.
As announced by Fitch, the ratings reflect PRECS' continued effective use of a variety of judicial and out-of-court work-out options. Legal timelines remain in line with the average seen across highly rated peers.
The '2+' ratings takes into account that PRECS's technology infrastructure is robust. The servicing platform provides flexible reporting capabilities. Appropriate system support and development resources are in place, and there are robust security protocols. Fitch also takes into consideration that PRECS has comprehensive business continuity and disaster recovery plans, with annual testing. Lastly, according Fitch, the ratings reflect PRECS' robust governance.