NEW YORK (S&P Global Ratings) May 8, 2019--S&P Global Ratings today assigned its 'CCC+' debt rating on MoneyGram International's proposed $245 million senior secured second-lien term facility. Our recovery rating of '6' indicates our expectation of negligible (0%) recovery in the event of default. The company intends to use the proceeds from the offering together with available working capital to prepay $245 million of debt outstanding under the first-lien term facility. The second-lien facility will bear interest of 13% per year, a portion of which would be payable in kind (PIK) at the company's option. Of the $245 million second-lien facility, BPC Lending I LLC, an affiliate of Beach Point Capital Management, will provide $200 million. The Carlyle Group, or
