Standard&Poor's Ratings Services has raised to STRONG from ABOVE AVERAGE its overall ranking on Securitisation Services SpA (SecServ) as a master servicer of asset-backed securities (ABS) transactions in Italy. The STRONG ranking reflects: Further growth in the number of portfolios for which SecServ acts as master servicer; Increased staffing levels, which are in line with the increased number of portfolios; and Continued oversight of subservicers, with additional enhancement of its IT platform for servicing. The outlook is stable for SecServ as a master servicer of ABS transactions in Italy. This reflects our view that SecServ has a stable organization in place, relying on a robust IT platform. SecServ is an Italian company that undertakes third-party master servicing for
