This report does not constitute a rating action. A subsidiary of IFIS NPL Investing SpA, which is ultimately owned by Banca IFIS SpA, IFIS NPL Servicing SpA manages nonperforming loans and credits for both its parent company and third-party clients. We affirmed our overall ABOVE AVERAGE rankings on IFIS NPL Servicing as a residential mortgage loan, commercial mortgage loan, and consumer finance loans and credits special servicer in Italy. The ranking outlook is stable for each ranking. MILAN (S&P Global Ratings) Oct. 21, 2026--S&P Global Ratings today affirmed its overall ABOVE AVERAGE rankings on IFIS NPL Servicing SpA as a residential mortgage loan, commercial mortgage loan, and consumer finance loans and credits special servicer in Italy. The ranking outlook is