We affirmed our overall ABOVE AVERAGE rankings on FBS SpA as a special servicer of residential mortgages, commercial mortgages, and unsecured consumer loans. FBS SpA is a special servicer registered under article 106 as a financial intermediary. The company was founded in 1997 and is based in Milan, Italy. Since Jan. 7, 2019, FBS SpA has been operating as a subsidiary of Banca IFIS S.p.A. managing several asset classes as special servicer. The outlooks are stable. MILAN (S&P Global Ratings) April 8, 2020--S&P Global Ratings today affirmed its overall ABOVE AVERAGE rankings on FBS SpA (FBS) as a special servicer of residential mortgages, commercial mortgages, and unsecured consumer loans in Italy. Our outlook on each ranking is stable. Our rankings