TEXT-S&P afrms ranking on Japan's Abilio Servicer at STRONG

Wed Jun 20, 2012 2:55am EDT

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(The following statement was released by the rating agency)

June 20 -

OVERVIEW

-- One of Abilio Servicer's main business activities is servicing unsecured loan receivables that it has purchased, primarily from financial institutions.

-- The company has established a solid track record as a commercial finance special servicer.

-- The company continues to focus on streamlining its servicing operations and enhancing its internal control framework

-- We have affirmed our STRONG servicer evaluation ranking on Abilio Servicer as a commercial finance special servicer.

Standard & Poor's Ratings Services today said that it has affirmed its STRONG servicer evaluation ranking on Abilio Servicer Co. Ltd. as a commercial finance special servicer. The outlook on the ranking remains stable.

Abilio Servicer was established on April 1, 2010, through the merger of Promise Co. Ltd.'s (NR) servicing subsidiaries, Sanyo Shinpan Servicer Co. Ltd. and PAL Servicer Co. Ltd. Abilio Servicer's main business activities include servicing unsecured loan receivables that it has purchased, primarily from financial institutions, as well as servicing small unsecured consumer loans. Abilio Servicer is included in Standard & Poor's Select Servicer List.

We base the ranking affirmation on the following factors: (1) Abilio Servicer has established a solid track record as a commercial finance special servicer; (2) the company continues to focus on streamlining its servicing operations by improving its organizational structure; and (3) it is actively enhancing its internal control framework.

Abilio Servicer is a wholly owned subsidiary of Promise. Abilio Servicer has its head office in Tokyo, with operation centers in Sapporo, Sendai, Nagoya, Osaka, and Fukuoka. Promise is a wholly owned subsidiary of Sumitomo Mitsui Financial Group Inc. (A/Negative/A-1).

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