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CenterOne News
| World Omni Financial Corp. STRONG Consumer Finance Servicer Ranking Affirmed |
NEW YORK (Standard & Poor's) Dec. 5, 2006 - Standard & Poor's Ratings Services
today affirmed its STRONG ranking for World Omni Financial Corp./CenterOne
Financial Services (WO/CO), a wholly owned subsidiary of JM Family Enterprises
Inc., located in Deerfield Beach, Fla., as a consumer finance - automobile
loan and lease servicer.
The affirmation of the STRONG ranking is based on WO/CO's highly
experienced management team, strong internal controls and risk management
environment, high level of automation, thorough policies and procedures,
excellent training regimen, demonstrated default and asset management
expertise, and successful execution of strategic business initiatives. In
addition, WO/CO provided metrics through Standard & Poor's Ratings Services'
SEAM questionnaire.
WO/CO continues to maintain a myriad of managerial reports to monitor its
servicing operations, examining alternatives to strengthen its controls, and
improve its effectiveness and efficiencies through reengineering and investing
in technology. WO/CO's strategic business initiatives, experienced management
team, solid level of automation, default and asset management expertise, and
persistent improvement in its operating efficiencies due to investments in
technology enables the company to effectively minimize portfolio risk through
sound internal controls and servicing practices.
Outlook
Stable. Management is committed to continuously improve the company's
performance and profits by expanding its automobile loan and lease portfolio.
Capitalizing on management experience, dynamic level of automation, and sound
internal controls enable WO/CO to effectively execute its proactive servicing
strategy. The company also leverages its servicing capacity by providing
third-party servicing of automobile loans and leases. WO/CO expects servicing
volume to grow, including its third-party servicing business. Standard &
Poor's believes that WO/CO will continue to be a highly competent automobile
loan and lease servicer.
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