|Real-time Estimate - 11/27 05:18:34 am|
doValue S p A : Fitch Upgrades doValue's Commercial Primary Servicer Rating
|09/11/2020 | 01:45am|
FITCH RATINGS UPGRADES DOVALUE'S COMMERCIAL PRIMARY SERVICER RATING
Roma, September 11, 2020 - doValue S.p.A. ("doValue" or the "Company") announces that Fitch Ratings ("Fitch") has upgraded its Commercial Primary Servicer Rating to "2+", while affirming its other Servicer Ratings, already at top levels in the rating scale.
In its regular review of doValue's operational capabilities, Fitch has highlighted the Company's efficient and highly automated primary loan servicing processes, its longstanding history in servicing, experienced staff and robust risk governance and technology.
According to doValue, the rating upgrade is particularly significant as it follows a period of intense growth and international expansion, with the acquisitions of Altamira Asset Management and FPS (now doValue Greece), and takes into consideration the Group's response to the challenges posed by the Coronavirus pandemic. More in detail, Fitch highlighted how doValue's staff swiftly moved to working from home, with no impact on the day-to-day business, IT has been strengthened and the network has performed well, demonstrating a robust continuity plan.
Top Servicer Ratings, consistently achieved by doValue and its subsidiary Italfondiario with both Fitch and S&P over the past 13 years, are a key competitive advantage in winning servicing mandates and continue to support doValue's leadership position in Southern Europe.
doValue, formerly doBank S.p.A., is the leading operator in Southern Europe in credit management and real estate services for banks and investors. Present in Italy, Spain, Portugal, Greece and Cyprus, doValue has some 20 years of industry experience and manages assets of more than €130 billion (gross book value) with over 2,350 employees and an integrated range of services: special servicing of NPLs, UTPs, early arrears and performing positions, real estate servicing, master servicing, data processing and provision and other ancillary services. doValue is listed on the Electronic Stock Market (Mercato Telematico Azionario) operated by Borsa Italiana S.p.A. and, including the acquisition of Altamira Asset Management, recorded gross revenues in 2019 of about €364 million with an EBITDA margin of 39%.
Simona Raffaelli - Emilia Pezzini firstname.lastname@example.org
Investor Relations - doValue S.p.A. Fabio Ruffini 06 47979154
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doValue S.p.A. published this content on 11 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 September 2020 05:44:07 UTC