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 the projections are ambitious but attainable if it can maintain its drive and focus. Staff turnover has been extremely low with only one departure—an internal transfer. Staff numbers increased in 2009 and the company plans to recruit a further five new employees in 2010. The company now sources new recruits through the Master program, a group initiative. These recruits undergo a structured training period of six weeks; consequently, we consider that when a new starter arrives at Securitisation
