Concentration in serving mortgage lenders as well as the operational and business risks that attend management's strategy of growth through acquisitions partly offset rating strengths. Altisource Portfolio Solutions has strong, high quality earnings and management's 'asset light' strategy entails minimal balance sheet risk. We're assigning our 'B+' long-term counterparty credit rating to Altisource Portfolio Solutions. We're also assigning an issue rating of 'BB-', with a recovery rating of '2', to Altisource Solutions S.a.r.l.'s $200 million senior secured debt issue. The outlook is stable. Management's investment in expanding three business lines while divesting two subsidiaries could temper earnings and entail considerable operational risk. On Nov. 5, 2012, Standard&Poor's Ratings Services assigned its 'B+' long-term counterparty credit rating to Altisource
