Moody's Investors Service has raised the servicer rating on Fairbanks Capital to SQ3, which signifies average, from a below-average rating of SQ4.The rating, for primary servicing of subprime loans and for special servicing, reflects operational improvements, a stabilizing legal and regulatory environment, effective servicing performance, and below-average financial stability for the firm, Moody's said. The rating incorporates an expectation that Fairbanks will be able to successfully renegotiate its bank lines and maintain adequate liquidity to fund its operations, Moody's said, adding that failure to do so "could have serious rating consequences."
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