Altisource's Debt levels have decreased by approximately $100 million over the past couple of years as the company has continued to repurchase debt. Though we expect EBITDA will decrease as revenue from Ocwen runs off, we believe this will be significantly offset by growth in non-Ocwen related revenues. We are raising our issue rating on Altisource's senior secured term loan to 'BB-' from 'B+' on higher recovery expectations in a default scenario. Issuer credit rating affirmed at 'B+', outlook remains stable. On October 12, 2016, S&P Global Ratings raised their issue rating on Altisource Solutions S.a.r.l's senior secured term loan to 'BB-' from 'B+' on improved recovery expectations. We revised our recovery rating on the loan to '2'--indicating our expectation
