...- We have affirmed our overall STRONG rankings on Zenith as a master servicer of residential and commercial mortgages and asset-backed securities. - The outlook is stable on all rankings. - Established as an independent company in November 1999, Zenith has been part of the Arrow Global Group PLC (Arrow) since 2017. MILAN (S&P Global Ratings) Nov. 23, 2021--S&P Global Ratings today affirmed its STRONG overall rankings on Zenith Service SpA (Zenith) as master servicer for residential and commercial mortgages and asset-backed securities in Italy. The ranking outlook is stable on all rankings. Zenith manages and oversees securitized portfolios comprised of asset-backed securities, commercial mortgages, and residential mortgages as a master servicer registered under article 106 of the Italian banking law. While our rankings relate exclusively to the servicer's master servicing function, Zenith offers additional services in the structured finance sector. We consider these other business lines...