OVERVIEW We have affirmed our ABOVE AVERAGE ranking on Securitisation Services as a master servicer of ABS receivables in Italy. Securitisation Services is a joint stock company specialized in managing and monitoring securitized transactions, and is 99.87%-owned by Finanziaria Internazionale Securitisation Group. LONDON (Standard&Poor's) March 25, 2010--Standard&Poor's Ratings Services has affirmed its ABOVE AVERAGE ranking on Securitisation Services SpA as a master servicer of asset-backed securities (ABS) receivables in Italy. The ranking reflects the following: Having reviewed Securitisation Services' corporate business plan for 2010, we believe its projections are ambitious but attainable. Staff turnover has been extremely low. Staff numbers increased in 2009 and the company plans to recruit a further five employees in 2010. The
