Agent network that supports its existing market position Increasing competition in money transfer services Exposure to different countries' regulations, including a deferred prosecution agreement with the U.S. Department of Justice Investments in compliance platforms and self-service channels and restructuring to reduce its cost base Debt to EBITDA of between 4.5x and 5.5x EBITDA interest coverage of around 4.0x Private-equity ownership that could lead to aggressive strategies for shareholder returns S&P Global Ratings' stable outlook on MoneyGram International reflects the firm's existing market position in money transfer services, our expectation of leverage to remain between 4.5x and 5.5x, and the firm's improved financial flexibility from additional covenant headroom. We could lower the rating over the next 12 months if the company
