To assist investors and market participants in assessing a servicer’s capacity and effectiveness, Pengyuan International offers a servicer evaluation rating that provides an independent and standardized assessment on a servicer’s ability to perform the servicing duties and its management of operational risks. 

 

Pengyuan International assigns the servicer evaluation ratings using a scale of five rating categories –  EXCEPTIONAL, GOOD, SATISFACTORY, WEAK and POOR (see Exhibit below), which indicates the strength of the servicer relative to other servicers performing the same servicing role in the same country. Pengyuan International also characterizes each servicer evaluation rating with an outlook, which represents an opinion on the potential revision of the rating for the intermediate term servicing duration. Pengyuan International uses the same types of outlooks defined in Rating Outlooks section. 

 

Exhibit: Servicer Evaluation Rating Levels

Servicer Evaluation Rating  

Description

EXCEPTIONAL

Servicers exhibit the highest servicing capacity, quality, and efficiency. These servicers may be characterized as companies that have a long-term stable servicing operating history, a proven track record of superior management, demonstrated expertise incorporating industry best practices, superior financial resources, advanced information technology, and excellent internal controls, policies, and procedures.

GOOD

Servicers exhibit very high servicing capacity, quality, and efficiency. These servicers may be characterized as companies that have a stable servicing operating history, a proven track record of strong management, demonstrated expertise incorporating sound industry practices, strong financial resources, well-established information technology, and strong internal controls, policies, and procedures.

SATISFACTORY 

Servicers exhibit proficient servicing capacity, quality, and efficiency. These servicers may be characterized as companies that have an acceptable servicing operating history, a proven track record of proficient management, demonstrated expertise in line with industry practices, adequate financial resources, sufficient information technology, and adequate internal controls, policies, and procedures.

WEAK

Servicers exhibit a lack of servicing capacity, quality, and efficiency. These services may demonstrate some of the following characteristics: an unfavorable servicing operating history, a weak management, limited experience, weak financial resources, deficient information technology, and limited internal controls, policies, and procedures.

POOR

Servicers exhibit limited or no servicing capacity, quality, and efficiency. These services may demonstrate some of the following characteristics: a poor servicing operating history, significant weaknesses in management, very limited or no experience, insufficient financial resources, significant deficiencies in information technology systems, and very limited or no internal controls, policies, and procedures.

 

Pengyuan International reserves the right of final interpretation of its products and services.


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