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RRD's Fitch Rating Revised

NEW YORK—Fitch Ratings has affirmed RR Donnelley's (RRD) Issuer Default Rating (IDR) at BB+ and revised the Rating Outlook to "Negative" from "Stable." Fitch said it is concerned organic revenue growth will continue to be challenged and, given the limited headroom within the ratings, any unexpected weakness in the economy or in RRD's operating performance could reduce the level of cash generated, slowing the pace of absolute debt reduction.