Altisource Portfolio Solutions Outlook Revised To Stable From Negative On Improvements At Ocwen; 'B+' Rating Affirmed

On Dec. 23, we revised our outlook on Altisource's largest client, Ocwen Financial Corp., to stable from negative, reflecting both the abatement of regulatory risks that had previously threatened the viability of Ocwen and Ocwen's deleveraging. We believe that increased stability at Ocwen enhances the stability of its largest product and service provider, Altisource. We are revising the rating outlook on Altisource to stable from negative and affirming the 'B+' issuer credit rating. The stable outlook reflects our view that Altisource's revenue will continue to be concentrated in products and services that serve the domestic mortgage and real estate market and somewhat dependent on the performance of Ocwen. In addition, we expect that debt to EBITDA will remain between 2x

...On Dec. 23, we revised our outlook on Altisource's largest client, Ocwen + Financial Corp., to stable from negative, reflecting both the abatement of regulatory risks that had previously threatened the viability of Ocwen and Ocwen's deleveraging. We believe that increased stability at Ocwen enhances the stability of its + largest product and service provider, Altisource. We are revising the rating outlook on Altisource to stable from negative and + affirming the 'B+' issuer credit rating. The stable outlook reflects our view that Altisource's revenue will continue to + be concentrated in products and services that serve the domestic mortgage and real estate market and somewhat dependent on the performance of Ocwen. In addition, we expect that debt to EBITDA will remain between 2x and 3x during the next 12 months. CHICAGO (Standard & Poor's) Dec. 23, 2015--Standard & Poor's Ratings Services today said it revised its rating outlook on Altisource Portfolio Solutions S.A. to stable from negative...

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