Fitch Ratings assigned Concent Forderungsmanagement (Concent) a German ABS primary servicer rating of 'ABPS3.' It is the first such rating assigned to a European ABS servicer.

The rating, Fitch said, relates to Concent's proficiency in servicing German trade receivables. It is also based on the extensive experience of the management team and staff. who have long company tenures, including positions at Concent's affiliates.

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