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Fitch ups Ocwen outlook to positive
Fitch Ratings said it affirmed Ocwen Financial Corp.'s B long-term debt rating and revised the outlook to positive from stable.
The outlook revision reflects Ocwen's success in reducing non-core assets and improved core operating performance. The agency said that non-core assets stood at $5.3 million at Sept. 30, down from $538.5 million at Dec. 31, 2001.
Moreover, Ocwen's operating performance has stabilized, including a positive contribution from all five core businesses, Fitch said.
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