Fitch affirms Western Union

Fitch Ratings said it affirmed Western Union Co.'s issuer default rating at A-, senior unsecured debt at A-, senior unsecured credit facility at A-, short-term issuer default rating at F2 and commercial paper program at F2.

The outlook is stable.

Ratings reflect significant free cash flow, conservative capital strategy and total adjusted leverage in the 2x to 2.5x range, the agency said.

Concerns include event risk dominated by shareholder-friendly actions, potential for higher capital spending requirements, increased competition from regional and multi-national banks and compliance risks, Fitch noted.

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