Moody’s raises Home Point Capital

Moody's Investors Service said it upgraded Home Point Capital Inc.'s corporate family rating to B1 from B3 and its senior unsecured rating to B1 from Caa1 following Home Point's acquisition by Mr. Cooper Group Inc. on Tuesday. The outlook is now stable.

Mr. Cooper Group, and its subsidiaries Nationstar Mortgage Holdings Inc., senior unsecured, and Nationstar Mortgage LLC, are together known as Mr. Cooper and are rated B1.

The upgrade concludes the review for upgrade of Home Point's ratings that was started on May 11. Home Point's ratings and outlook are now aligned with those of Mr. Cooper, Moody’s said.

"The upgrade reflects Home Point's stronger financial profile following its acquisition by Mr. Cooper, which is better capitalized, and has more liquidity and greater operating scale," said Stephen Lynch, a Moody's vice president, in a press release.

© 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.