S&P: MoneyGram view stable

Standard & Poor's said it affirmed MoneyGram International's B+ long-term counterparty credit rating and revised the outlook to stable from negative.

The rating action reflects the stabilization of MoneyGram's financial performance since its recapitalization in March 2008, S&P said.

The rating continues to be limited by the high leverage associated with MoneyGram's recapitalization, the agency said.

The rating is supported management's proactive use of excess cash flow to prepay debt under its senior credit facility, the agency said.

At Sept. 30, MoneyGram's debt-to-EBITDA ratio was 6.6 times.

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