S&P: J.G. Wentworth, notes B

Standard & Poor's said it assigned a B long-term counterparty credit rating on J.G. Wentworth LLC, along with a B rating on the $300 million senior secured notes due in 2013 issued by subsidiary PeachHI LLC and guaranteed by Wentworth.

The outlook is stable.

The rating reflects its monoline business, highly leveraged balance sheet and business model that relies on the need to continuously replenish asset origination and access refinancing, S&P said.

Wentworth's strong market position somewhat offsets these risks, the agency said.

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