SOURCE: Bowne & Co., Inc.

Bowne & Co., Inc.

August 18, 2009 16:10 ET

Moody's Investors Service Changes Bowne's Outlook to Stable From Negative Following Debt Repayment

NEW YORK, NY--(Marketwire - August 18, 2009) - Bowne & Co., Inc. (NYSE: BNE), a global leader in shareholder and marketing communications services, today announced that Moody's Investors Service ("Moody's") changed the ratings outlook for Bowne & Co., Inc. to stable from negative following the application of approximately $60 million of equity proceeds to debt repayment.

Moody's also affirmed Bowne's corporate family rating of B1, affirmed Bowne's probability of default rating of B1, and affirmed its subordinate convertible bonds rating of B3. Moody's announced these actions yesterday.

About Bowne & Co., Inc.

Bowne & Co., Inc. (NYSE: BNE) provides shareholder and marketing communications services around the world. Dealmakers rely on Bowne to handle critical transactional communications with speed and accuracy. Compliance professionals turn to Bowne to prepare and file regulatory and shareholder communications online and in print. Investment managers and third party fund administrators count on Bowne's integrated solutions to streamline their document processes and produce high quality communications for their shareholders. Marketers look to Bowne to create and distribute customized, one-to-one communications on demand. With 2,800 employees in 50 offices around the globe, Bowne has met the ever-changing demands of its clients for more than 230 years.

Contact Information

  • Investor Relations Contact:
    Bryan Berndt
    Treasurer
    (212) 658-5817
    bryan.berndt@bowne.com

    Media Contact:
    Pamela Blum
    Director of Corporate Communications
    (212) 658-5884
    pamela.blum@bowne.com

    Bowne & Co., Inc.
    55 Water Street
    New York, NY 10041
    (212) 924-5500
    Fax: (212) 658-5871