Research Update: MoneyGram International Downgraded To 'B' From 'B+' On Declining Operating Performance; Outlook Is Stable - S&P Global Ratings’ Credit Research

Research Update: MoneyGram International Downgraded To 'B' From 'B+' On Declining Operating Performance; Outlook Is Stable

Research Update: MoneyGram International Downgraded To 'B' From 'B+' On Declining Operating Performance; Outlook Is Stable - S&P Global Ratings’ Credit Research
Research Update: MoneyGram International Downgraded To 'B' From 'B+' On Declining Operating Performance; Outlook Is Stable
Published Nov 12, 2018
7 pages (2077 words) — Published Nov 12, 2018
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

MoneyGram International Inc. lowered its earnings guidance for 2018 following weak operating performance and said its deferred prosecution agreement with the U.S. Department of Justice will be extended for an additional 30 months. We are lowering our long-term issuer credit rating on MoneyGram International Inc. to 'B' from 'B+'. The stable outlook reflects our expectation that MoneyGram will operate with debt to EBITDA between 5.5 to 6.0x, successfully amend its senior secured credit facility financial covenants, and continue to improve its compliances functions. On Nov. 12, 2018, S&P Global Ratings lowered its long-term issuer credit rating on MoneyGram International Inc. to 'B' from 'B+'. The outlook is stable. At the same time, we also lowered our issue rating on MoneyGram's

  
Brief Excerpt:

...+ MoneyGram International Inc. lowered its earnings guidance for 2018 following weak operating performance and said its deferred prosecution agreement with the U.S. Department of Justice will be extended for an additional 30 months. + We are lowering our long-term issuer credit rating on MoneyGram International Inc. to 'B' from 'B+'. + The stable outlook reflects our expectation that MoneyGram will operate with debt to EBITDA between 5.5 to 6.0x, successfully amend its senior secured credit facility financial covenants, and continue to improve its compliances functions....

  
Report Type:

Research Update

Ticker
MGI
Issuer
MoneyGram International
Sector
Global Issuers
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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MLA:
S&P Global Ratings’ Credit Research. "Research Update: MoneyGram International Downgraded To 'B' From 'B+' On Declining Operating Performance; Outlook Is Stable" Nov 12, 2018. Alacra Store. May 04, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-MoneyGram-International-Downgraded-To-B-From-B-On-Declining-Operating-Performance-Outlook-Is-Stable-2128506>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: MoneyGram International Downgraded To 'B' From 'B+' On Declining Operating Performance; Outlook Is Stable Nov 12, 2018. New York, NY: Alacra Store. Retrieved May 04, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-MoneyGram-International-Downgraded-To-B-From-B-On-Declining-Operating-Performance-Outlook-Is-Stable-2128506>
  
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