S&P: Western Union notes BBB+

Standard & Poor's said it assigned a BBB+ rating on the Western Union Co.'s $250 million 3.35% senior unsecured notes due May 2019.

The long-term issuer credit rating on Western Union is BBB+ and the outlook is negative.

Western Union will use the new debt, in addition to the $250 million issued during August 2013, to prefund its $500 million of debt due in February 2014.

The agency also said it assigned a negative outlook.

The ratings are based on the strength of the company's premier money transfer franchise, which is by far the market leader, S&P said.

The ratings also reflect the company's history and proven ability to generate strong and consistent cash flow and earnings, the agency said, and its relatively low exposure to credit, interest rate and liquidity risks.

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