High Rating for QQuant by International Agency 'Fitch'
QQuant Master Servicer is the first Greek receivables management company to obtain an international servicer certification in the domestic market. QQuant Master Servicer was ranked by the international rating agency 'Fitch' at the second-highest level (2-) on the 5-point scale.
The assessment from the international agency is exceptionally high, considering the recently established Greek servicers market. The international agency 'Fitch' provides tangible evidence of QQuant's high operational capabilities and the Qualco Group's ability to carry out operations effectively. Specifically, servicers ranked in the second tier of Fitch's assessment demonstrate high performance in their overall ability to recover managed receivables effectively.
The characteristics of a level '2' servicer include:
Stable growth strategy.
Financial stability that enables support for the company's growth strategy.
Strict adherence to prescribed procedures and regulatory requirements within a structured risk management framework.
Strong receivables management demonstrated by experienced management and a trained workforce.
Best-in-class operational processes, both internally and with partners.
Comprehensive information systems for continuous monitoring of the company's operations.
Fitch's certification of QQuant guarantees its effectiveness in handling increasingly complex loan servicing and asset portfolio management requirements. It highlights the quality of the company's people, systems, and processes and serves as a valuable guide for investors," said Nikolaos Vardaramatos, CEO of QQuant.
He also noted that "the assessment assures QQuant's investor clients that the jointly set business goals will be achieved. Specifically, this high rating makes QQuant a preferred partner for investors participating in the upcoming securitisation of banks under the “Hercules Project”.
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.