Pitney Bowes announced that it amended its revolving credit facility and Term Loan A, extending their maturities to May 2031 while keeping the facility sizes unchanged at $450 million for the revolving credit facility and $152 million for the Term Loan A.
The company said the extension is expected to strengthen liquidity and financial flexibility as management continues focusing on strategic capital allocation and leverage reduction.
In conjunction with the announcement, Fitch Ratings initiated coverage of Pitney Bowes and assigned the company a BB- Long-Term Issuer Default Rating with a Stable Outlook. Fitch also assigned a BB+ rating to the company’s senior secured debt and a BB- rating to its senior unsecured bonds.
Pitney Bowes said the developments reflect the company’s improved financial performance, strengthened balance sheet, and enhanced operational execution. Additional details regarding the amended facilities are expected to be filed in a Form 8-K with the Securities and Exchange Commission.
Pitney Bowes is a technology-driven company providing digital shipping solutions, mailing innovation, and financial services to clients globally, including more than 90% of the Fortune 500.
KEY QUOTE:
“Thanks to the dedication and focus of our 6,000+ Pitney Bowes team members, we continue to make progress with respect to strengthening our already improved financial position. 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. Additionally, the credit facility’s amendments give us greater flexibility to allocate capital strategically in a nimble and accretive manner over its five-year term. Fitch’s initiation of coverage with a BB- rating and Stable Outlook provides further validation of the progress we are making to advance our core objectives for 2026 and beyond.”
Kurt Wolf, Chief Executive Officer and Director, Pitney Bowes
