S&P Global Ratings affirmed the BB- issuer credit rating on Oxford Finance LLC and downgraded the company's senior unsecured debt rating to B from B+.
The rating agency noted that as the company has "somewhat increased" leverage in recent quarters, the amount of secured debt outstanding that ranks ahead of its senior unsecured notes has risen.
The outlook remains stable, reflecting the rating agency's expectation that Oxford Finance's loan portfolio will continue to perform well.
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.
