Fitch gives Western Union notes BBB+

Fitch Ratings said it assigned a BBB+ rating to Western Union Co.'s proposed $250 million 51/2-year senior unsecured note offering.

The outlook is stable.

Proceeds from the offering will be used for general corporate purposes, including repayment of indebtedness. The agency expects proceeds will effectively refinance a portion of the company's $500 million 6.5% senior unsecured notes due February 2014.

Fitch said Western Union's ratings and outlook are supported by the following factors: Extensive domestic and growing international agent network with a strong worldwide brand; revenue stability from strong global diversification and consumer exposure; and an asset-light business model with a largely variable cost structure due to the company's network of agents which generally own and operate the retail locations.

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