Seeking Alpha

MoneyGram outlook cut at S&P

  • "When Wal-Mart commissions are deducted, it will result in about a 9% reduction to gross profit," says S&P analyst Igor Koyfman, as the agency affirms MoneyGram International's (MGI -14.2%) BB- rating, but cuts the outlook to negative from stable.
  • Wal-Mart represents about 26% of MGI's total revenue in Q4, says S&P ... "this level of agent-client concentration is a risk."
  • Earlier coverage of the Wal-Mart move and repercussions.
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