Target Rating Upgraded to ‘Above Average’ by Standard & Poor’s

23 November 2011

Target Servicing, the business process outsourcing subsidiary of Target Group, has achieved a Standard & Poor’s rating upgrade to an overall ranking of ‘Above Average’ as a primary servicer of residential mortgages and consumer finance loans in the UK.

The upgraded overall ranking reflects Standard and Poor’s view of Target as a business with a healthy new business pipeline, strong management team, high level of customer service, extensive governance controls and a streamlined, efficient and effective process for bringing new clients on board.

The Standard & Poor’s (S&P) report, which gives Target a ‘Stable’ outlook, highlights the firm’s growth by entering into several new contracts with major financial services providers including Yorkshire Building Society, Shawbrook Bank and Gilliat Financial Solutions.

Standard & Poor’s also affirmed Target’s ‘Above Average’ sub-ranking for management and organisation and loan administration.

James Snow, Chief Executive Officer at Target Group, said:
“Target Servicing offers efficient, quality services to our clients. We will continue to strive hard to deliver the best results for our clients and achieve further growth and improvement in the year ahead.”

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