Link Financial Appointed Back-Up Servicer on TdA Lico Leasing III
Securitisation of EUR78m Credit Rights
LONDON, November 22, 2012 /PRNewswire/ --
Link Financial is pleased to announce that it has been appointed
as back-up servicer to TdA Lico Leasing III on a portfolio of over
5,883 lease contracts to 4,206 debtors covering Spanish SMEs and
self-employed individuals. Moody's and DBRS have assigned
provisional ratings to the senior note, rating it as A3 and AAA
respectively with a value of €78m.
Link will receive regular data feeds from the Servicer to the
transaction as well as performing a review of this information for
the benefit of the deal. Furthermore, Link's Spanish business, Link
Finanzas SL, would assume successor servicing duties at the
discretion of the management company within the transaction.
Selina Burdell, COO of Link
Financial Group, commented, "We are pleased to have been selected
as the backup and successor servicer to this transaction.
This provides further evidence that Link's approach to backup
servicing, as well as the strength of our operational capabilities,
is a compelling offering to the European ABS market."
This appointment follows on from the group's recent strong
performance in its European servicing operations. Standard &
Poor's (S&P) recently reviewed the company's servicer ranking
raising it to "STRONG - Outlook Stable" awarding
Link Financial with their highest rating for a consumer loan
special servicer in Europe.
Notes to the editors:
Link Financial
Link Financial is one of Europe's leading purchasers and servicer of
both performing and non-performing loans, managing more than 1.5
million customers and €6 billion of receivables across its European
platform. The company is headquartered in London, with further operational centres in
Spain, Italy, Germany, Ireland and Wales.
For further information, please
contact:
Gerald Elliott, Communications
Director, Link Financial Group
T: +44(0)20-7150-0228 E: gelliott@linkfinancial.co.uk
Link Financial Group, 89 Albert Embankment, London SE1 7TP, UK
http://www.linkfinancial.eu