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Pitney Bowes Inc. -- Moody's downgrades Pitney Bowes' CFR to Ba2; outlook changed to stable

Moody's Investors Service ("Moody's") downgraded the Corporate Family Rating ("CFR") of Pitney Bowes Inc. ("Pitney Bowes") to Ba2 from Ba1 and Probability of Default Rating to Ba2-PD from Ba1-PD. The senior unsecured note rating was downgraded to Ba2 and the speculative grade liquidity rating was downgraded to SGL-2.