Ocwen Financial (OCN) Issues Commentary on Moddy's Recent Rating Upgrade
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Moody's Upgrades Ocwen Financial (OCN) to 'B2'; Follows Recent Announced MSR Sales
June 3, 2015 2:29 PM EDTMoody'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 Caa1The 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 EDTMoody's Upgrades Ocwen Financial (NYSE: OCN) Rating to B2, Outlook Stable
... More