Rating Action: Moody’s assigns Ba1 to Pitney Bowes’ proposed amended credit facility and B1 to new unsecured notesGlobal Credit Research – 09 Mar 2021New York, March 09, 2021 — Moody’s Investors Service (“Moody’s”) assigned a Ba1 rating to Pitney Bowes Inc.’s (Pitney Bowes) proposed amended and extended senior secured revolver and term loan B. Moody’s also assigned a B1 rating to the new senior unsecured notes offering and (P)B1 to the existing senior unsecured shelf. All other ratings and the negative outlook are unchanged.Net proceeds from the new unsecured notes and a portion of excess cash will be used to reduce term loan B outstandings by $418 million, repay all of the notes due 2021, and fund partial tenders of notes due 2022 through 2024. The $140 million net debt reduction will improve adjusted debt to EBITDA to roughly 5.7x from 6.1x as of December 2020.Assignments:..Issuer: Pitney Bowes Inc…..Senior Secured Revolving Credit Facility, Assigned Ba1 (LGD2)….Senior Secured Term Loan A, Assigned Ba1 (LGD2)….Senior Secured Term Loan B, Assigned Ba1 (LGD2)….Gtd Senior Unsecured Regular Bond/Debenture, Assigned B1 (LGD5)….Senior Unsecured Shelf, Assigned (P)B1RATINGS RATIONALEThe proposed amended and extended credit facility and new notes are opportunistic as Pitney Bowes looks to extend nearer term debt maturities. Post-closing of the transactions, remaining debt maturities for 2022 through 2024 will be more manageable with the nearest significant debt…