Press release 07.08.2004
GFKL Financial Services AG the first German financial company to obtain a »Servicer Rating Evaluation« of »Above Average«
GFKL Financial Services AG is the first German company to receive a service rating from the internationally renowned rating agency »Standard & Poors« as a so-called »Primary Servicer« and »Special Servicer« in the area of Equipment Finance. At »Above Average: Outlook Stable«, the rating corresponds to the third-best rating of the 18-level evaluation matrix. A Servicer Rating assesses the quality of handling capacities, in this case for financing investment goods, which are needed in particular for Asset Backed Security emissions. The Primary Servicer Rating assesses the quality of the administration of current financing agreements, while the Special Servicer Rating evaluates the quality of the management’s defaulting credit and leasing commitments. With the acquisition of the Servicer Rating, GFKL Financial Services AG has consolidated its leading position in the rapidly growing market for services rendered as part of the securitization of receivables.
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GFKL Financial Services AG Information:
Founded in 1992, GFKL Financial Services AG is a leasing and financial outsourcing corporation operating a nation-wide network of branches in Germany. The core competencies of the Group encompass financing of investment assets as well as the assessment, acquisition and administration of receivables portfolios. As a holding company, GFKL Financial Services AG provides centralized services for several operational subsidiaries. These corporations offer a spectrum of services that covers the entire value chain in the financing of mobile investment assets:
- Closing of in-house leasing, rental and finance-purchase agreements
- Administration of credit and leasing portfolios
- Refinancing of leasing companies
- Securitizing and sale of mobile investment assets
- Business software, services and consulting for a complete range of receivables collections models
Some of the key shareholders of GFKL Financial Services AG are subsidiaries of ABN AMRO Bank, Goldman Sachs Group, Inc. and ERGO Versicherungsgruppe AG as well as the Westdeutsche Landesbank AG. The staff functions of the group of companies are consolidated at GFKL Financial Services AG as the conglomerate´s holding corporation.
GFKL Group employs about 660 staff members who produced Group revenues of EUR 539.5 million in 2004 and after tax Group earnings of EUR 14.1 million. In the past fiscal year, profits on shareholder equity came in at 18.5 percent.
GFKL Financial Services AG
Limbecker Platz 1
D-45127 Essen
E-Mail: pr@gfkl.com