Lender Processing Services Inc. (LPS), a leading North American provider of technology and services to the mortgage and real estate industry, recently announced that it expects a sequential decline in revenue and earnings in the June 2011 quarter, reflecting weakness in both mortgage origination and default volumes. We are affirming our 'BB+' corporate credit rating, and revising the outlook to negative from stable. The negative outlook reflects our expectation of near-term revenue and earnings weakness, and greater uncertainty regarding the timing and impact of new financial industry regulations on LPS' financial profile. NEW YORK (Standard & Poor's) June 17, 2011--Standard & Poor's Ratings Services said today that it affirmed its 'BB+' corporate credit rating on Jacksonville, Fla.-based Lender Processing Services...
Companies mentioned in this report are: Lender Processing Services Inc.
Action: Outlook: Negative
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
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