Moody's rates Pitney Bowes notes Baa2

Moody's Investors Service said it assigned a Baa2 rating to Pitney Bowes, Inc.'s proposed $100 million senior unsecured notes due 2022.

The outlook remains stable.

The company intends to use the net proceeds for general corporate purposes.

Pitney Bowes' Baa2 senior unsecured rating reflects the sizable market position of its core postal metering business within the mature office equipment industry.

Nonetheless, Pitney Bowes faces particularly tough business challenges as its U.S. meter equipment installed base is expected to continue to shrink due to the secular decline in traditional mail delivery, Moody's said.

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