Ocwen Financial (OCN) Updates on Recent Credit Ratings Changes

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Go back to Ocwen Financial (OCN) Updates on Recent Credit Ratings Changes

Moody's Upgrades Ocwen Financial (OCN) to 'B2'; Follows Recent Announced MSR Sales

June 3, 2015 2:29 PM EDT

Moody's Investors Service has upgraded the following ratings of Ocwen Financial (NYSE: OCN):

Corporate Family Rating: B2 from B3Senior Secured Bank Credit Facility: B2 from B3Senior Unsecured Debt: B3 from Caa1

The outlook for all ratings is stable.

RATINGS RATIONALE

The rating actions follow the company's recently announced mortgage servicing rights (MSRs) sales which will provide the company significant liquidity. The company has stated their intention to use the cash generated from the sales to deleverage, if so, we estimate that the cash from the... More

Moody's Upgrades Ocwen Financial (OCN) Rating to B2, Outlook Stable

June 3, 2015 2:28 PM EDT

Moody's Upgrades Ocwen Financial (NYSE: OCN) Rating to B2, Outlook Stable

... More