Login or request a free trial

AMS on the nose with S&P

Standard & Poor's yesterday said it revised its outlook on the firm's servicer ranking on Australian Mortgage Securities to negative from stable. S&P has a "strong" ranking on AMS, a subsidiary of GE Money.S&P said the negative outlook on the servicer ranking reflects weaknesses in specific areas of AMS' arrears management framework, disaster-recovery planning, and operational risk management. The ratings agency went on to say that it believed "the weaknesses may negatively affect AMS' servicing operations in the short term."S&P said it will review the ranking in the last quarter.

I'm a returning subscriber

Password reset
Login

Request a free trial

  • Emailing you the news at 7am.
  • Covering core lending and funding issues, strategy, payments, regulation, risk management, IT, marketing and more.
  • Original news and summaries of major stories from other media – ditch your newspaper subscriptions.
  • Focused on banking and finance, saving you the time spent wading through newspapers and other services.
  • With reporting from former editors and senior writers from the AFR and The Australian.
  • Configured for your phone, laptop and PC.
Free trial Banking Day