The ratings upgrade makes Acenden the highest ranked primary servicer in the UK.
S&P highlighted Acenden’s track record, its experience in special servicing and servicing difficult loans and that Acenden has developed proven processes and tools for debt management and loss mitigation.
S&P also made not of Acenden’s continual improvement in the efficiency and quality of its processes and customer service. The ratings agency stated that a significant gain in efficiency had been achieved, while complaint levels by customers had also fallen are now viewed by S&P as low.
Martin Frazer, commercial director at Acenden, said: “This announcement is a significant watershed for Acenden.
“To be ranked by S&P as the single strongest servicer in our sector is validation of our belief in the Acenden business model and in the rapid progress the company has made in the last 18 months.
“As S&P has highlighted, the upgrade is not just based on our traditional strengths, but on our efforts to grow the business, excel in our customer service and bring innovative solutions to the market.
“We are confident that we can continue to improve in these aspects, and S&P’s endorsement bodes well for the future of Acenden.”
