News

Fitch upgrades Quant’s Commercial Servicer Rating

Written by Quant[EN] | Mar 19, 2024 12:06:58 PM

Fitch Ratings, the International Rating Agency, has upgraded QQuant Master Servicer Single Member S.A.'s (Quant) commercial special servicer rating to 'CSS2+' from 'CSS2' and affirmed its asset-backed special servicer rating at 'ABSS2+'. Notably, the outlooks of both ratings remained stable. The rating scale starts from '1', which corresponds to the highest score, to '5', which corresponds to the lowest.

Fitch's operational review is a rigorous and comprehensive process that thoroughly examines Quant's operational efficiency and processes. This upgrade attests to the company's unwavering commitment to its business strategy and continuous technological improvements, leading to more effective day-to-day servicing.

Specifically, Quant has successfully boarded a EUR2.7 billion residential non-performing loan portfolio, demonstrating its expanding services and experience. Moreover, its automation initiatives in corporate loan management, call recording for commercial loans, and the introduction of Quant My account, its self-service portal, have significantly streamlined its processes.

Since Fitch's review in 2022, it has been observed that middle and senior management show greater commitment towards Quant as an employer of choice, in line with its reputation as the best workplace.

Lastly, Quant's robust technological framework was further strengthened by appointing a Chief Information Security Officer, obtaining the ISO27001:2013 certification, and implementing new robotic process automation tools, contributing to increased operational efficiency and risk reduction.

Quant's unique position as the sole licensed Servicer in Greece, rated by Fitch, is a testament to its exceptional performance and credibility, establishing the company among the most effective Servicers in Europe.