Global agent network supports solid market position in the money transfer industry Improved financial profile after recapitalization Lack of business diversification and high level of agent concentration Operating margin of money transfer business lags market leader Exposure to regulatory risk Standard&Poor's Ratings Services' ratings on MoneyGram International reflect the firm's lack of business diversification and high level of agent concentration in its Global Funds Transfer segment. Additional considerations include the operating margin of its money transfer business, which lags the market leader, and its exposure to regulatory risk. MoneyGram's solid market position in the money transfer industry is the primary positive ratings factor, in our view. The ratings also benefit from the company's improved financial profile since its
