Fitch Ratings Revises RR Donnelley's Outlook

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.” In a previous notice, Fitch had stated its concern that revenue declines in the low-to-mid single digits could pressure cash flows and slow down absolute debt reduction, and thereby lead to an outlook revision or rating change.