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Fitch affirms Avon
Fitch Ratings said it affirmed Avon Products, Inc.'s issuer default rating at A, bank credit facilities at A, senior unsecured notes at A and commercial paper at F1.
The outlook is negative.
The rating reflects Avon's unique position in the beauty market, as the world's largest direct seller of beauty and related products, the agency said.
Debt-to-EBITDA ratio rose slightly to 1.6 times.
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