S&P revises OneMain view to positive

S&P said it revised its outlook on OneMain Holdings Inc. to positive from stable. Concurrently, the agency affirmed OneMain’s issuer credit and unsecured debt ratings at BB-. The agency also affirmed the B- issue ratings on AGFC Capital Trust’s preferred stock.

“The outlook revision on OneMain and its subsidiary reflect the company's strong performance during 2020, and our belief that its operating performance is likely to remain resilient over the next year. For the first quarter of 2021, the company's leverage, measured as debt to adjusted total equity (ATE), was 5.2x, in the middle of our expected range of 4.5x to 6x. We expect OneMain will continue to operate with leverage within our expected range,” S&P said in a press release.

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