Fitch reviews Ocwen

Fitch Ratings said it placed the senior unsecured notes of Ocwen Financial Corp. and the senior secured notes of Ocwen Loan Servicing, LLC on rating watch positive following the publication of an Exposure Draft of its Global Non-Bank Financial Institutions Rating Criteria, which contemplates the introduction of + and - modifiers at the CCC rating category.

The Exposure Draft was published on Dec. 12 after which Fitch is soliciting market feedback until Jan. 31, 2018. Thereafter, the agency said it will publish finalized criteria and resolve the Rating Watch status of the affected securities within a reasonably short time frame.

Ocwen Financial’s senior unsecured notes and Ocwen Loan’s senior secured notes are currently rated CC/RR6 and CCC/RR5, respectively.

Ocwen's ratings are otherwise unaffected by this rating action.

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