CRIBIS Credit Management, NPL Special Servicer, obtains an upgrade of its Fitch ratings to RSS2+, CSS2+ and ABSS2+

March 2021

Fitch Ratings has upgraded the ratings of CRIBIS Credit Management - the CRIF Group company specializing in the outsourced management of collection processes and NPL management - as a Special Servicer for Residential, Commercial, and Asset-Backed activities.

This important recognition was achieved in three different areas of activity:

RSS2+ Residential Special Servicer: residential mortgage-backed securities
CSS2+ Commercial Special Servicer: commercial mortgage-backed securities
ABS2+ Asset-backed Special Servicer: secured or unsecured securitized assets
The rating agency performed an assessment of the company’s financial conditions and measured the ability of CRIBIS Credit Management to withstand adverse market conditions and manage the overall volumes of assets under management (AUM).

In particular, Fitch Ratings identified the following strengths of CRIBIS Credit Management: 

Enhancement of its special-servicing procedures
Growing and steady increase in total Assets Under Management (AUM), especially in the residential and asset-backed segments
Strong operational and strategic synergies with the parent company CRIF
Significant management experience in servicing, banking, and law
Comprehensive and varied training with in-depth courses and learning paths tailored to employee aspirations through a new training platform which enables monitoring
Sound and automated credit management processes and controls with dedicated personnel in charge of reporting
Robust monitoring process, strengthened by the Compliance department
Efficient monitoring and updating of business plans, including regular reviews and automated reminders
CRIF expertise supports the business in the collection, enrichment, and processing of data in the management stage according to appropriate strategies
Robust IT infrastructure with enhanced technical support
Investments in robotics technology to streamline the most repetitive processes
Effective disaster-recovery and business-continuity plans during the pandemic