International rating agency Fitch Ratings upgraded the assessment of Quant Master Servicer from 2- to 2 on June 24, 2021.
According to Fitch Ratings analysis, the only receivables management company in Greece to be rated by an international agency is ranked among the most effective companies in the European Servicers sector.
Specifically, 'Fitch Ratings' upgraded Quant to ABSS2 from ABSS2- for Consumer Loans and CSS2 from CSS2- for Business Loans, respectively. Note that the rating scale starts from '1,' which corresponds to the best rating, to '5,' which corresponds to the lowest.
The rating for Quant's operational function provided by Fitch represents an independent, objective assessment of the company's ability to handle increasingly complex loan servicing requirements and asset portfolio management.
This upgrade reflects the company's achievement in increasing assets under management (AUM), operational maturity, and enhancing portfolio performance reporting tools.
Specifically, since the previous Fitch assessment in 2019, in about a year and a half, Quant reached its goal of doubling its assets under management, from €5.8 billion in July 2019 to €11.9 billion at the end of March 2021 and €12.2 billion today. This increase is due to assignments from existing investor partners and new clients (banks) seeking specialised management.
Furthermore, Fitch notes that Quant has increased process automation, developing new and modern integrated information systems for client portfolio performance reporting. Investors have access to Quant's Power Business Intelligence tool, which allows them to monitor their portfolio management progress daily.
In addition, Quant has improved the efficiency of control processes, increased its human resources at all levels, implemented an effective performance monitoring and reward system, and systematised its training program.
Fitch also notes that risk management rules are strictly followed with consistent control, and all required quality assurance processes are in place. According to the rating agency, Quant applies a highly effective methodology for planning and monitoring the effectiveness of business plans, ensuring proactive portfolio management and, consequently, achieving capital recovery goals.
As Quant continues to expand its activities, it remains committed to achieving its strategic goals, continuously developing its infrastructure, people, and processes, aiming for even better assessments.
QQuant Master Servicer Servicing of Loans and Credits Single Member S.A. (‘Quant’) is an independent servicer of non-performing loans granted by Greek banks and financial institutions to individuals and enterprises in Greece. Quant is licensed by the Bank of Greece according to Greek law 4354/2015 as stipulated in the Executive Committee Act 118/19.5.2017.