Altisource 'B' Rating Affirmed On Likely Services Agreement With New Residential; Rating Removed From CreditWatch

Altisource and New Residential Corp. (NRZ) signed a letter of intent to enter into a services agreement that significantly reduces the risk of it losing legacy Ocwen-related revenues. We expect the eventual agreement will not affect leverage. We are affirming our issuer credit rating on Altisource at 'B'. The stable outlook reflects our view that Altisource will reach an agreement with NRZ and will operate with a debt-to-EBITDA ratio of 2.5x-3.0x. NEW YORK (S&P Global Ratings) Dec. 21, 2017--S&P Global Ratings said today it affirmed its 'B' long-term issuer credit rating on Altisource Portfolio Solutions S.A. In addition, we removed the ratings from CreditWatch with negative implications, where we placed them on May 1, 2017. The outlook is stable. The

...+ Altisource and New Residential Corp. (NRZ) signed a letter of intent to enter into a services agreement that significantly reduces the risk of it losing legacy Ocwen-related revenues. We expect the eventual agreement will not affect leverage. + We are affirming our issuer credit rating on Altisource at 'B'. + The stable outlook reflects our view that Altisource will reach an agreement with NRZ and will operate with a debt-to-EBITDA ratio of 2.5x-3.0x. NEW YORK (S&P Global Ratings) Dec. 21, 2017--S&P Global Ratings said today it affirmed its 'B' long-term issuer credit rating on Altisource Portfolio Solutions S.A. In addition, we removed the ratings from CreditWatch with negative implications, where we placed them on May 1, 2017. The outlook is stable. The rating action reflects our expectation that the company will reach a services agreement with NRZ that will not affect leverage. Altisource and NRZ signed a letter of intent to enter into a services agreement that reduces the risk of...

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