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Fitch Takes Rating Actions on QQuant

Fitch Ratings, the international Rating agency, upgraded QQuant Master Servicer Single Member S.A's ("Quant") ("QQuant") asset-backed special servicer rating to 'ABSS2+' from 'ABSS2' and affirmed the servicer's commercial special servicer rating at 'CSS2'. Fitch has assigned a Stable and Positive Outlook to the ratings, respectively.

Quant remains the only licensed servicer in Greece that has been rated by an international rating agency and, according to Fitch Ratings, is among the most efficient servicers in Europe.

This upgrade reflects Quant's strategic development and the achievement of its business objectives as well as the implementation of a more efficient portfolio management. According to the rating agency, Quant has a very effective methodology for monitoring the performance of business plans, using state-of-the-art portfolio performance reporting systems to ensure that capital recovery targets are met.

It is worth mentioned that QUANT aims to manage private and corporate portfolios effectively and in a socially responsible manner. QUANT's experienced team uses state-of-the-art technology and complex analytical models to provide innovative, flexible, and sustainable solutions for the management of non-performing receivables. These solutions are tailored to the debtors' actual financial situation and facilitate their future plans. It is worth noting that more than 80% of the solutions offered are consensual, as transparency, integrity and a human-centered approach are at the core of Quant's strategy.

Since Fitch's last rating in 2021, Quant has increased its assets under management (AuM) by 15% to GBP 10.8 billion at June 2022. The increase has been driven by the signing of management agreements with new clients. Quant has also strengthened its corporate governance through the further development of its audit, compliance/ AML functions and has implemented ongoing technology improvements and process automation. At the same time, Quant invested in its growing workforce by using performance appraisal and reward systems, improving the workplace and working style, and organizing training and development programmes. In line with this strategy, Qualco Group - of which Quant is an essential component - was recently accredited as an excellent place to work. Quant is continuing on its growth path and is constantly investing in its people, its technological infrastructure and its processes in order to achieve even better results.