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Moody's revises outlook on Quicken Loans

Moody's affirmed Quicken Loans Inc.'s Ba2 unsecured debt and corporate family ratings.

The outlook was changed to positive from stable.

Moody's believes the company has a strong presence in the U.S. mortgage market because it is "the second-largest retail and third-largest overall US mortgage originator and eighth-largest US mortgage servicer," the rating agency said. The company's profit levels are high and capital levels are strong, it added.

The revised outlook is based on Moody's view that Quicken will maintain its strong franchise position, profitability and capital levels, although aggregate U.S. mortgage origination volumes are declining, according to the rating agency.