S&P: Pitney Bowes to negative

S&P said it revised the outlook on Pitney Bowes Inc. to negative from stable and affirmed all its BBB- issue-level and corporate credit ratings and A-3 short-term ratings.

“The negative outlook reflects Pitney Bowes' higher leverage pro forma for its pending acquisition of Newgistics above 3x in 2017 and the execution risk to reposition in its identified e-commerce markets such that operating performance improves and leverage declines below 3x in 2018,” the agency said in a news release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.