trending Market Intelligence /marketintelligence/en/news-insights/trending/GXeQBs_gzVazJ6--fUv63A2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

S&P revises outlook on Mr. Cooper Group to negative from stable

Street Talk Episode 56 - Latest bank MOE shows even the strong need scale to thrive

South State CenterState MOE Shows Even The Strong Need Scale To Thrive

Talking Bank Stocks, Playing The M&A Trade With Longtime Investor

Report: Kashkari Says Fed In Holding Pattern But Rate Cut Still Possible

S&P revises outlook on Mr. Cooper Group to negative from stable

S&P Global Ratings revised its outlook on Mr. Cooper Group Inc. to negative from stable, citing the company's rising leverage.

Ratings also affirmed the long-term issuer credit and unsecured debt ratings on the company, Nationstar Mortgage Holdings Inc. and Nationstar Mortgage LLC at B.

S&P Global Ratings noted that Mr. Cooper Group's debt-to-tangible equity for the six months ended June 30 was 1.95x, compared with 1.05x for the same period in 2018. The negative outlook reflects the rating agency's expectation that the company's debt-to-EBITDA and EBITDA interest coverage will remain around 6.0x and 2.0x, respectively, over the next 12 months.

S&P Global Ratings expects Mr. Cooper Group's debt-to-tangible equity to remain between 2.0x and 2.5x on a sustained basis and that the company will keep its market position as the largest non-bank mortgage servicer.

This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings, a separately managed division of S&P Global. Descriptions in this news article were not prepared by S&P Global Ratings.