Ocwen Financial Corporation (OCN)

Ocwen Loan Servicing, LLC -- Moody's assigns B2 rating to PHH Mortgage's secured debt issuance; outlook revised to stable from negative

Rating Action: Moody's assigns B2 rating to PHH Mortgage's secured debt issuance; outlook revised to stable from negativeGlobal Credit Research - 24 Feb 2021New York, February 24, 2021 -- Moody's Investors Service, ("Moody's") has assigned a B2 rating to PHH Mortgage Corporation's (PMC) planned $400 million 5-year first-lien senior secured debt issuance. In the same rating action, Moody's affirmed the company's Caa1 corporate family rating and revised the outlook to stable from negative.Moody's also affirmed the ratings of PMC's outstanding $185 million term loan and Ocwen Loan Servicing's (OLS) second-lien senior secured debt totaling $292 million.