S&P affirms OneMain at B

S&P said it affirmed its B issuer credit ratings on OneMain Holdings Inc., OneMain Financial Holdings Inc. and Springleaf Finance Corp.

The outlook on each entity is stable.

“The ratings affirmations reflect OneMain's ongoing efforts to reduce its financial leverage in line with our expectations,” S&P said in a news release.

As of June, debt to adjusted total equity decreased to 10.3x from 10.8x as of year-end 2016 and about 12.0x the same time last.

The stable outlook reflects S&P’s expectations that over the next 12 months, OneMain will maintain its competitive position in nonprime consumer lending, continue to gradually reduce its leverage to below 10.0x, and that net charge-offs will remain below 10% on a consistent basis.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.