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We study theoretically the squeezing spectrum and second-order correlationfunction of the output light for an optomechanical system in which a mechanicaloscillator modulates the cavity linewidth (dissipative coupling). We findstrong squeezing coinciding with the normal-mode frequencies of the linearizedsystem. In contrast to dispersive coupling, squeezing is possible in theresolved-sideband limit simultaneously with sideband cooling. The second-ordercorrelation function shows damped oscillations, whose properties are given bythe mechanical-like, the optical-like normal mode, or both, and can be belowshot-noise level at finite times, $g^{(2)} (\tau) < 1$.

Squeezed light and correlated photons from dissipatively coupled optomechanical systems