...+ MoneyGram International's 2013 credit agreement requires that the current secured leverage covenant, measured quarterly, step down from 4.25x to 3.75x on Jan. 1, 2017. + We are revising our rating outlook on MoneyGram to negative from stable. + At the same time, we are affirming our issuer credit rating on the company at 'B+' and our issue rating on its senior secured notes at 'B+'. + The negative outlook reflects the possibility of reduced financial flexibility that could materialize as a result of a breach of its secured leverage covenant. CHICAGO (Standard & Poor's) April 22, 2016--Standard & Poor's Ratings Services today said it revised its outlook on MoneyGram International to negative from stable. At the same time, we affirmed our 'B+' issuer credit and senior secured debt ratings. "The outlook revision to negative reflects the limited headroom that MoneyGram has against its secured leverage ratio covenant," said Standard & Poor's credit analyst Richard Zell. "The current covenant...
