NEW YORK (Standard&Poor's) March 27, 2008--Standard&Poor's Ratings Services said today that it affirmed its 'B+' long-term counterparty credit rating on MoneyGram International. The rating was removed from CreditWatch with negative implications, where it was placed March 14, 2008. The outlook is negative. "The affirmation follows MoneyGram's announcement on March 25, 2008, that it successfully closed a recapitalization transaction with an investment group led by affiliates of Thomas H. Lee Partners and Goldman Sachs," said Standard&Poor's credit analyst Rian M. Pressman, CFA. The investors purchased $760 million of Series B and Series B-1 Preferred Stock, convertible into 79% of MoneyGram's common equity, at an initial conversion price of $2.50 per share. Affiliates of Goldman Sachs
