S&P downgrades Viad

Standard & Poor's said it lowered its ratings on Viad Corp, including its long- and short-term corporate credit ratings, which were lowered to BB and B from BBB and A-2.

S&P also removed the ratings from CreditWatch, where they were placed on July 24, 2003.

"The ratings action follows Viad's spinoff of MoneyGram International Inc., its payment services business, to its shareholders," said S&P credit analyst Steven Picarillo.

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