SOURCE: Bowne & Co., Inc.

Bowne & Co., Inc.

August 10, 2009 10:10 ET

Standard & Poor's Ratings Service Revises Bowne's Outlook to Positive on Common Stock Issuance

NEW YORK, NY--(Marketwire - August 10, 2009) - Bowne & Co., Inc. (NYSE: BNE), a global leader in shareholder and marketing communications services, today announced that Standard & Poor's Ratings Service affirmed its 'B' corporate credit rating and revised the rating outlook to positive.

The rating affirmation and rating outlook revision, which was issued by Standard & Poor's on Friday, followed the announced pricing of the Company's common stock offering of 10.5 million shares. The proceeds of the offering will be used to repay the Company's term loans in their entirety, with the remaining proceeds to be used to repay outstanding obligations under its revolving credit facility. Standard & Poor's stated the positive outlook reflects the improvement in the Company's financial profile attributable to the reduction of the Company's debt leverage and the elimination of required quarterly amortization payments on its term debt, given the repayment in full of these obligations.

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
    (212) 658-5817

    Media Contact:
    Pamela Blum
    Director of Corporate Communications
    (212) 658-5884

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