Rating Agency Comments About Cogent QC Systems

Rating Agencies are familiar with Cogent QC Systems and have commented favorably in their reviews of Cogent clients. Here are examples what they’ve had to say in their annual reviews:

Fitch

“[Client] has instituted a more robust QC and audit review since Fitch’s last review.  [They have] created a separate internal QC group, complementing audits customarily conducted by the compliance unit.  Also, …  Cogent [QC System] was implemented this year … which provides highly customizable statistical sampling and detailed reports … All functions are audited against [Client]’s policies and procedures… Fitch views the new QC and audit programs, various internal layers of scrutiny, and regulatory oversight favorably.”

Standard & Poor’s

“The company implemented a Cogent [QC System] … that facilitates reviews through statistical sampling, analysis and reporting.  All Cogent reports are provided to the parent… Standard and Poor’s believes [Client]’s auditing and compliance practices provide a solid foundation to guard against risk of loss to itself and its investors due to … errors or inefficiencies.”

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