Moody's rates MoneyGram notes B2

Moody's Investors Service said it assigned a B2 rating to MoneyGram International, Inc. ‘s expected offering of first-lien secured notes. The action completes the rating of the company's proposed refinancing of its debt capital structure.

The agency raised MoneyGram’s corporate family rating to B2 from B3 and assigned B2 ratings to its first-lien credit facilities on July 7.

"MoneyGram's strategic actions have improved business positioning over the last eighteen months, but competition is further intensifying, and business portfolio dynamics remain highly complex," said Peter Krukovsky, a Moody's senior analyst, in a press release. "From this perspective, the recent equity capital raise, debt reduction and the pending refinance at lower interest rates provide the needed flexibility."

The outlook is stable.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.