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S&P places MoneyGram International ratings on CreditWatch positive

S&P Global Ratings has placed all its ratings on MoneyGram International Inc., including the B+ issuer credit rating, on CreditWatch with positive implications.

The ratings action follows the announcement of a pending acquisition of the company by Ant Financial Services Group. The CreditWatch placement reflects S&P's view that the transaction will enhance MoneyGram International's credit profile as all its outstanding debt will be retired. The rating agency also believes the transaction could benefit the company's market position.

S&P expects to resolve the CreditWatch by raising the ratings on MoneyGram International by one or more notches at the close of the transaction, which is expected to occur during the second half of the year.

S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.