PARIS (Standard&Poor's) Dec. 14, 2007—Standard&Poor's Ratings Services said today that it has assigned its "ABOVE AVERAGE" ranking on Securitisation Services SpA as a master servicer of ABS receivables in Italy. The outlook is stable. The ranking is based on the company's stable and seasoned management team, robust internal controls and risk management, excellent policies and procedures, effective subservicer supervision, and adequate levels of automation to service a growing, more diversified portfolio. "Further automation and more resilience in the IT platform are needed for the ranking to be raised," said surveillance analyst Michela Bariletti. Management plans during the next 12 months emphasize a managed and controlled growth of the servicing portfolio, continuing to improve performance and profits
