S&P affirms Altisource

S&P said it affirmed the B long-term issuer credit rating on Altisource Portfolio Solutions SA and removed its ratings from CreditWatch with negative implications, where they were placed on May 1.

The outlook is stable.

Altisource and New Residential Corp. signed a letter of intent to enter into a services agreement that significantly reduces the risk of it losing legacy Ocwen-related revenues, the agency explained.

“We expect the eventual agreement will not affect leverage,” S&P said in a news release.

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