Pitney Bowes extends credit facilities to 2031, receives BB- rating

Pitney Bowes Inc. (NYSE: PBI) announced it has extended the maturities of its revolving credit facility and Term Loan A to May 2031. The $450 million revolving credit facility and $152 million Term Loan A maintain their existing sizes under the amended terms.

Fitch Ratings initiated coverage of the company and assigned a BB- Long-Term Issuer Default Rating with a Stable Outlook. The rating agency also assigned issue-level ratings of BB+ to the company's senior secured debt and BB- to its senior unsecured bonds.

"The extension of our RCF and Term Loan A reflects the continued confidence of our banking partners in Pitney Bowes' strengthened balance sheet, enhanced operations and strategic direction," said Kurt Wolf, chief executive officer and director.

Wolf noted that the amended credit facility provides greater flexibility for strategic capital allocation over the five-year term. He described Fitch's rating initiation as validation of the company's progress toward its objectives for 2026 and beyond.

The company stated that additional details regarding the amended facilities will be filed in a Form 8-K with the Securities and Exchange Commission.

Pitney Bowes provides digital shipping solutions, mailing innovation, and financial services to clients globally, including more than 90 percent of the Fortune 500 companies. The technology-driven company is based in Shelton, Connecticut.

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