Japan-Based Capital Servicing STRONG Ranking As A Commercial Loan Special Servicer Outlook Stable

Stocks and Financial Services Press Releases Thursday July 5, 2018 16:06
TOKYO--5 Jul--S&P Global Ratings

TOKYO (S&P Global Ratings) July 5, 2018--S&P Global Ratings today said it has affirmed its STRONG servicer ranking on Capital Servicing Co. Ltd. (CSC), which it categorizes as a commercial loan special servicer. The outlook on the ranking is stable. CSC remains on S&P Global Ratings' Select Servicer List in the above category (see below for an explanation of this list).

We affirmed our ranking on CSC largely because:
  • The company has built up a proven track record in the special servicing of commercial loans;
  • Its collection staff have ample servicing experience; and
  • Its highly versatile computer systems have allowed it to streamline servicing operations.
We also maintained our assessment of CSC's financial position as sufficient.

CSC was established in September 1998 to conduct servicing operations as allowed under Japan's Act on Special Measures Concerning Claim Management and Collection Businesses (the Servicer Law), which came into effect in February 1999. The Ministry of Justice licensed CSC as Japan's 23rd servicer in September 1999, and the company began operations in December 1999. In July 2017, CSC became a part of the Evolution Financial Group.

Our STRONG ranking on CSC as a commercial loan special servicer reflects our analysis and assessment of various factors, including:
  • The servicing experience of its collection staff;
  • Its internal policies and procedures, and their accessibility to employees;
  • The implementation and results of its internal audits;
  • Its implementation of internal controls;
  • The quality and capacity of the computer systems that support its day-to-day business operations;
  • Its data backup systems, disaster contingency plans, and execution of system resumption tests;
  • Its track record in the special servicing of commercial loans;
  • Its method for preparing collection plans;
  • Its loan boarding and verification processes;
  • Its cash management methods;
  • The workload per servicing employee; and
  • Its ability to report to investors and relevant parties.

S&P Global Ratings bases its servicer evaluations on an objective and comprehensive assessment of a servicer's operational capabilities for servicing various types of receivables and obligatory rights. Based on the assessment, we assign rankings in the following five categories: STRONG, ABOVE AVERAGE, AVERAGE, BELOW AVERAGE, and WEAK.

To be included in, or to remain on, S&P Global Ratings' Select Servicer List, servicers must, in principle, meet the criteria for attaining at least an AVERAGE ranking with a stable outlook and a sufficient financial position.


Latest Press Release

Fitch Affirms BAM at #AA-(tha)#; Outlook Negative

Fitch Ratings (Thailand) has affirmed Bangkok Commercial Asset Management Public Company Limited's (BAM) National Long-Term Rating at 'AA-(tha)' with a Negative Outlook. A full list of rating action is at the end of this commentary. KEY RATING...

Fitch Affirms AEON Thana Sinsap at #A-(tha)#; Outlook Stable

Fitch Ratings (Thailand) has affirmed the National Long-Term Rating of AEON Thana Sinsap (Thailand) Public Company Limited (AEONTS) at 'A-(tha)' with a Stable Outlook. A full list of rating actions is at the end of this rating action commentary. KEY...

Photo Release: Make parcel delivery payments to Alpha FAST with QR Code via K PLUS and get special discount!!!

Recently, at KBank Head Office, Mr. Vallop Vongjitvuttikrai (second from right), KBank Executive Vice President, and Mr. Leong Choong Cheng, Chief Operation Officer of Alpha Performance Group, a parcel delivery service provider under the "Alpha FAST"...

กรุงศรี ออโต้ คว้า 2 รางวัลจากงาน Asian Banking and Finance Awards 2018 ตอกย้ำภาพลักษณ์นวัตกรรมสินเชื่อยานยนต์ไทย

"กรุงศรี ออโต้" ผู้นำธุรกิจสินเชื่อยานยนต์ครบวงจร เครือธนาคารกรุงศรีอยุธยา จำกัด (มหาชน) คว้า 2 รางวัล จากงาน Asian Banking and Finance Awards 2018 ในสาขา Open Banking Initiative of the Year และ Automobile Lending Initiative of the Year...

TCP Group integrates sustainability into 5-year business plan

TCP Group, the Thai beverage and snacks group that owns, manufactures, and distributes Krating Daeng (Red Bull), Ready, Sponsor, Som Plus, Mansome, and Puriku beverages as well as Sun Snack snacks, today, announced that it has embedded far-reaching...

Related Topics