S&P Global Ratings raised Ditech Holding Corp.'s issuer credit rating to CCC- from D following the announcement that the company exited its Chapter 11 bankruptcy proceedings.
Ditech Holding, which filed for Chapter 11 bankruptcy in February, recently closed the sale of its forward business to New Residential Investment Corp. The stock and assets of its reverse business were sold to Mortgage Assets Management LLC and its affiliate.
The rating agency subsequently withdrew its ratings on Ditech Holding at the company's request. The outlook was negative at the time of withdrawal.
This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings. Descriptions in this news article were not prepared by S&P Global Ratings.
