Standard & Poor’s (S&P) has awarded Hipoges Iberia with “above average” rating as a residential mortgage asset manager. This is the first qualification that a Spanish company has received by a credit rating agency.
Hipoges is one of the main independent platforms managing toxic assets in Spain, holding 2.600 million Euros in mortgage and consumer credits administered. Such companies are more and more popular due to banks and Sareb´s need to externalize the management of the assets allocated because of the crisis.
According to Juancho Vizcaíno, the managing director of Hipoges Iberia, “thanks to Sareb´s activity, the investors got a guarantee of interesting assets flow in the future”.