Fitch raises United Wholesale notes

Fitch Ratings said it raised United Wholesale Mortgage, LLC’s unsecured debt rating to BB- from B+ and affirmed the BB- issuer default rating.

“The narrowing of the notching on the senior unsecured debt, which is now equalized to the IDR, is driven by the growth in unencumbered assets available to the noteholders, suggesting average recovery prospects in a stressed scenario,” Fitch said in a press release.

The outlook is stable.

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