Milan, 19 October 2021 – Ifis Npl Servicing Spa, the subsidiary of the Banca Ifis Group specialized in the management and recovery of Npls also on behalf of third parties, has been upgraded by Fitch Ratings. In fact, the agency has increased the Asset-Backed Special Servicer Rating to ABSS1- from ABSS2 and confirmed the
company’s residential and commercial Special Servicer Ratings, respectively, as RSS2 + and CSS2 +.
Fitch rating positions Ifis Npl Servicing among the best servicers in the market in the management and recovery of several categories of Npls. Ifis Npl Servicing’s activity, which currently involves the Bank’s proprietary portfolio and third parties’ portfolios, may in the future be extended to Npl portfolios purchased by the Banca Ifis Group in partnership with co-investors.
According to Fitch, Ifis Npl Servicing’s risk management is robust and deserving of the better ‘1’ rating. Ifis Npl Servicing’s control framework can be broken down into three levels that the agency deems best practice (operational level, compliance/anti-money laundering/risk management and finally internal audit).