S&P: Pitney Bowes to negative

Standard & Poor's said it revised the outlook on Pitney Bowes Inc. to negative from stable.

The agency also said it affirmed the company's BBB+ corporate credit rating and the existing issue-level ratings.

The ratings reflect an expectation that operating trends will remain under pressure in 2012, S&P said, and that fully adjusted debt levels will drop somewhat by year-end 2012.

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