Standard & Poor's assigns Target Loan Servicing servicer ranking

Target Loan Servicing has been assigned an "AVERAGE" servicer ranking by international ratings agency Standard & Poor's (S&P).  This ranking was assigned for primary residential mortgage servicing and primary consumer finance servicing in the UK.

Target Loan Servicing is the only loan outsourcing company in the UK with an S&P ranking for primary consumer finance.

Target Loan Servicing's strengths were identified by S&P to reflect the following:

- a well established operating system widely in use through the financial services industry in the UK

- a robust management structure with a good cross section of experience

- good internal controls and management information systems

- strong parental support

- effective fully documented processes for core and support activities with clear ownership and version control

- a motivated and experienced workforce with low attrition.

"Achieving an "AVERAGE" ranking so soon is very encouraging and a good achievement for Target Loan Servicing.  We offer lender and investor owners of both secured and unsecured, fixed and variable rate consumer loan products real choice in this market" said James Snow, Chief Executive Officer, Target Loan Servicing.

"Our agility means that we can rapidly deploy new services - and quickly apply our proven skills, processes and leading technology to clients' portfolios. Our experienced operational management team, led by Glen Herbert, Chief Operating Officer, is confidently delivering for our clients," he added.

S&P has noted that Target Loan Servicing's ranking is constrained by its relatively short track record.  For its financial position Target Loan Servicing was also assigned a ranking of "SUFFICIENT." This followed a review of the company's financial position and that of its parent company Target Group.

Standard & Poor's Financial Services LLC, provides independent financial information, analytical services, and credit ratings to the world 's financial markets.