Fitch Revises R.R. Donnelley’s Outlook from Stable to Negative

RRD revised guidance for 2012 revenues to $10.4-$10.5 billion, which includes $160 million related to the unfavorable impact of foreign exchange and pass through paper revenues. The company’s previous guidance for revenues was to be flat to slightly up from 2011 revenues of $10.6 billion, excluding the impact of foreign exchange and pass through papers.