S&P ups Pitney Bowes view to stable

Standard & Poor's said it revised its outlook on Pitney Bowes Inc. to negative from stable and affirmed all its other ratings on the company, including the A corporate credit and A-1 short-term ratings, as well as the BBB+ preferred stock rating for Pitney Bowes International Holdings Inc.

S&P said that Pitney's operating trends have been under pressure for the past three quarters, with both revenues and margins declining compared to last year.

The agency expects leverage to remain high through the first half of 2010.

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