Moody's upgrades OneMain, Springleaf

Moody's Investors Service said it upgraded OneMain Holdings, Inc.'s corporate family rating to B2 from B3 and Springleaf Finance Corp.'s senior unsecured debt rating to Ba3 from B1.

The outlook is stable.

Moody's also withdrew the outlooks on all of OneMain's, Springleaf Finance's and AGFC Capital Trust I's existing instrument ratings for its own business reasons.

The upgrades reflect the significant progress OneMain Holdings has made in de-leveraging, improving its liquidity profile and achieving strong profitability since the acquisition of OneMain Financial Holdings, LLC in November 2015, the agency explained.

OneMain Holdings has continued to strengthen its liquidity and funding profile by prepaying and further laddering debt maturities, Moody's said, as well as by increasing the availability under its credit facilities and extending their maturities.

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