Moody's lowers Western Union

Moody's Investors Service said it downgraded the Western Union Co.'s senior unsecured rating to Baa1 from A3 and affirmed the Prime-2 short-term rating.

The outlook remains negative.

"The downgrade to Baa1 and the negative ratings outlook reflect Moody's concerns over the sustainability of profits in Western Union's core money transfer business and continued shareholder friendly actions," Moody's vice president and senior credit officer Stephen Sohn said in a news release.

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