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"ABOVE AVERAGE" Ranking On Credito Fondiario SpA (FONSPA) Affirmed As Italian Commercial And Residential Loan Servicer Jun 09
Standard & Poors, June 2009
Abstract
OVERVIEW -- We have affirmed as 'ABOVE AVERAGE' our servicer ranking on Credito Fondiario. -- It is an Italian commercial and residential loan servicer. LONDON (Standard & Poor's) June 25, 2009--Standard & Poor's Ratings Services has affirmed as 'ABOVE AVERAGE' its ranking on Credito Fondiario SpA (FONSPA), a wholly owned subsidiary of Morgan Stanley (MS; A/Negative/A-1), as a primary servicer of commercial and residential mortgages in the Italian market. The 'ABOVE AVERAGE' ranking reflects the following: -- The executive team demonstrates a high degree of industry knowledge and proficiency in servicing residential commercial loans. -- FONSPA operates in a well designed technology environment that provides the necessary levels of process automation and internal control. -- The company has reorganized its...
Companies mentioned in this report are: Credito Fondiario SpA,Morgan Stanley
Action: Affirmed
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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