|By PR Newswire||
|September 3, 2014 09:34 AM EDT||
- Strength of management and successful diversification of business cited as reasons for upgrade -
LONDON, Sept. 3, 2014 /PRNewswire/ -- Hatfield Philips International ("HPI"), Europe's largest independent commercial real estate loan servicing firm, today announced that Standard & Poor's Ratings Services raised to 'Above Average' from 'Average' its overall ranking as a primary and special servicer of commercial loans in the U.K. and as a special servicer of commercial loans in Germany.
In its report, Standard & Poor's cited the experience of HPI's management and staff along with the firm's success in diversifying its revenue streams as reasons for the positive upgrade. Furthermore, Standard & Poor's credited HPI for the range of training and personal development opportunities it provides its employees.
"This important upgrade reflects the significant progress we have made strengthening the business on a variety of fronts," said Blair Lewis, Chief Executive Officer of Hatfield Philips. "We have worked hard to cultivate and retain a highly experienced staff of workout, real estate, debt servicing and client service specialists, which has enabled us to win new business and expand the services we are able to provide market participants. We are proud to be recognized for our efforts thus far and look forward to continuing our evolution to ensure HPI is best positioned for sustained success."
Taking into account its 'BB' long-term rating on HPI's parent company, Starwood Property Trust Inc. (NYSE: STWD), Standard & Poor's considers HPI's financial position to be 'Sufficient,' which is the highest qualifying financial status of a parent company.
About Hatfield Philips International Ltd.
Hatfield Philips International is one of Europe's largest primary and special servicers with over £12.5 billion assets under management. Since its inception in 1997, the Company has established itself as a full-service loan servicer, offering a complete suite of products and services to a wide range of clients that issue, own or invest in commercial mortgage backed securities and loan portfolios. Hatfield Philips is a subsidiary of LNR Property, a United States-based real estate investment, finance, management and development firm, which was acquired by Starwood Property Trust (NYSE: STWD) in April 2013.
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