Fitch rates new United Shore Financial debt B+

Fitch Ratings said it assigned an expected rating of B+ to the proposed $700 million unsecured debt issuance by United Shore Financial Services, LLC (United Wholesale).

Proceeds are expected to be used to for general corporate purposes.

United Wholesale has a long-term issuer default rating of BB-. The outlook is stable.

“United Wholesale's ratings reflects its solid franchise, with leading market share in the wholesale U.S. residential mortgage segment, solid asset quality performance in the servicing portfolio, strong earnings generation, improving capitalization, sufficient earnings coverage of interest expenses, a sufficiently robust and integrated technology platform, and experienced management team with extensive industry background,” Fitch said in a news release.

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