S&P drops Revlon view to negative

Standard & Poor's said it revised its outlook on Revlon Consumer Products Corp. to negative from stable, following its proposed $75 million add-on term loan and affirmed its B- rating and its recovery rating of 2 on Revlon's existing senior secured term loan facilities that will now total $775 million.

The B- bank loan rating remains at the same level as the corporate credit rating, the agency said, adding that existing ratings on the company, including its B- corporate credit rating, have been affirmed.

S&P added that the ratings on Revlon reflect its participation in the highly competitive mass-market cosmetics industry, high leverage and inconsistent operating performance, noting that these risks are somewhat mitigated by the company's leading position in the sector and improved liquidity.

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