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S&P revises outlook on OneMain Holdings, units

S&P Global Ratings has revised its outlook on OneMain Holdings Inc. and its rated subsidiaries to positive from stable.

The rating agency has also affirmed its B issuer credit ratings on OneMain Holdings, OneMain Financial Holdings LLC and Springleaf Finance Corp.

S&P said the positive outlook reflects the company's shift toward more secured lending with growth in its direct auto and secured personal loan businesses. It also reflects the company's decreasing leverage, modest growth in receivables and diversified funding mix.

The positive outlook reflects S&P's expectations that OneMain Holdings will maintain its competitive position in nonprime consumer lending and continue to gradually reduce its leverage over the next 12 months, the rating agency said.

S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.