Evolving Business Plans in Italian NPL Transactions
DBRS Morningstar released a commentary titled “Evolving Business Plans in Italian NPL Transactions”.This commentary addresses the process that servicers go through to develop their business plans and how they have performed against these plans in light of the Coronavirus Disease (COVID-19) pandemic.
The commentary highlights DBRS Morningstar’s observations and findings, including:
-- How servicers approach collection rates when developing business plans;
-- The (under)performance and what has led to this; and
-- The number of transactions DBRS Morningstar has downgraded due to a combination of factors.
“Portfolio features and servicer capabilities coupled with servicer performance and the ability to successfully implement recovery strategies in a timely manner are important to NPL transactions”, states Laura Lombardo, Assistant Vice President, European NPLs at DBRS Morningstar.
DBRS Morningstar is a global credit ratings business with 700 employees in eight offices globally. DBRS and Morningstar Credit Ratings are committed to empowering investor success, serving the market through leading-edge technology and raising the bar for the industry.
Together, we are the world’s fourth largest credit ratings agency and a market leader in Canada, the U.S. and Europe in multiple asset classes. We rate more than 2,600 issuers and 54,000 securities worldwide and are driven to bring more clarity, diversity and responsiveness to the ratings process. Our approach and size provide the agility to respond to customers’ needs, while being large enough to provide the necessary expertise and resources. For more details visit us at dbrs.com.
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