Research Update: Altisource 'B' Rating Affirmed On Likely Services Agreement With New Residential; Rating Removed From CreditWatch - S&P Global Ratings’ Credit Research

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

Research Update: Altisource 'B' Rating Affirmed On Likely Services Agreement With New Residential; Rating Removed From CreditWatch - S&P Global Ratings’ Credit Research
Research Update: Altisource 'B' Rating Affirmed On Likely Services Agreement With New Residential; Rating Removed From CreditWatch
Published Dec 21, 2017
6 pages (1957 words) — Published Dec 21, 2017
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

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. On Dec. 21, 2017, S&P Global Ratings 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

  
Brief Excerpt:

...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....

  
Report Type:

Research Update

Issuer
Altisource Portfolio Solutions S.A.
Sector
Global Issuers
Country
Luxembourg
Region
Europe, Middle East, Africa
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Altisource 'B' Rating Affirmed On Likely Services Agreement With New Residential; Rating Removed From CreditWatch" Dec 21, 2017. Alacra Store. May 10, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Altisource-B-Rating-Affirmed-On-Likely-Services-Agreement-With-New-Residential-Rating-Removed-From-CreditWatch-1974957>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Altisource 'B' Rating Affirmed On Likely Services Agreement With New Residential; Rating Removed From CreditWatch Dec 21, 2017. New York, NY: Alacra Store. Retrieved May 10, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Altisource-B-Rating-Affirmed-On-Likely-Services-Agreement-With-New-Residential-Rating-Removed-From-CreditWatch-1974957>
  
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