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Moody's rates Revlon notes B3
Moody's Investors Service said it assigned a B3 rating to Revlon Consumer Products Corp.'s proposed $330 million offering of senior secured notes due 2015.
The company's B2 corporate family rating and speculative-grade liquidity rating of SGL-2 were affirmed, the agency said.
The outlook is stable.
The agency said that Revlon's B2 corporate family rating reflects the company's global brand franchises, strong geographic and product diversification for a number of well known brands in color cosmetics, haircare and fragrances, and significantly improved and sustained profitability (EBITDA margins of 14.2%) and cash flow metrics (FCF to debt of 3.2%).
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