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S&P rates Western Union floaters BBB+
Standard & Poor's said it assigned its BBB+ rating to Western Union Co.'s $250 million senior unsecured floating-rate notes due in 2015.
The long-term issuer credit rating on Western Union is BBB+, and the outlook is negative.
S&P said its ratings on Western Union are based on the strength of the company's premier money transfer franchise - still by far the market leader - its history and proven ability to generate strong and consistent cash flow and earnings, and its relatively low exposure to credit, interest rate and liquidity risks.
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