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S&P affirms Ocwen Financial ratings

Jan 29, 2019 - SNL Financial
Mergers and Acquisitions

S&P Global Ratings affirmed Ocwen Financial Corp.'s long-term issuer credit rating at B-.

The rating agency also affirmed the company's senior secured term loan rating at B+, its second-lien secured notes rating at B-, and its unsecured notes rating at CCC. The company's recovery rating is at 1.

The outlook on the ratings remains negative, reflecting the execution risks associated with the integration of PHH Corp., which was acquired by Ocwen in October 2018.

The rating agency ...