Johannesburg, 25 April 2014 — Global Credit Rating Co. (Pty) Ltd (‘GCR’) has published its updated Global Summary Criteria for Rating Structured Finance Servicers.
GCR has updated its Global Summary Criteria for Rating Structured Finance Servicers. The updated Criteria details GCR’s Servicer Quality (‘SQ’) rating approach and how it separates a servicer’s performance from the credit quality of the loans being serviced, as well as other factors beyond the servicer’s control. The intention of the criteria is to evaluate how effective a servicer is at preventing defaults, and maximizing recoveries when defaults do occur as part of a structured finance transaction.
The criteria report is an update to the version published in April 2013. There are no significant amendments to the Criteria. It is not expected that the update of this Criteria will have an impact on any existing transactions that have been rated under it. Going forward, all new servicer ratings will be accorded using this Criteria.
Sector Head: Structured Finance Ratings
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Sector Head: Financial Institution Ratings
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