NEW YORK (S&P Global Ratings) June 18, 2019--S&P Global Ratings today said that MoneyGram International Inc.'s (MGI; B/Stable/--) strategic agreement with Ripple Labs Inc. (XRP) could lower operating expenses by using XRP's settlement platform. The two companies signed a two-year agreement stating that MGI will use XRP's platform for transfers called xRapid as a back-office channel for managing its settlement operations. Under the agreement, Ripple made an initial investment of $30 million in equity, made up of common stock and warrants to purchase newly issued common stock at $4.10 a share--nearly triple MGI's closing price of $1.45 on June 17. The deal also includes additional funding of $20 million in newly issued stock at $4.10 a share. The warrant agreement
