Fitch ups Western Union

Fitch Ratings said it upgraded the following ratings for Western Union Co.: issuer default rating to A- from BBB+, senior unsecured debt to A- from BBB+ and senior unsecured credit facility to A- from BBB+.

In addition, Fitch said it has affirmed the following ratings for Western Union: short-term issuer default rating at F2 and commercial paper program at F2.

The outlook is stable.

According to the agency, the ratings upgrade mainly reflects higher-than-expected free cash flow generation with superior free cash flow margins and characteristics relative to peers and slightly improving credit protection measures from minimal debt reduction over the last year.

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