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S&P rates Avon notes A
Standard & Poor's said it assigned an A senior unsecured debt rating to Avon Products Inc.'s (A/negative/A-1) proposed $500 million 5.625% senior notes due 2014 and $350 million 6.5% senior notes due 2019.
Proceeds will be used to refinance existing commercial paper borrowing and for general corporate purposes.
Ratings reflect the company's leading position in the prestige segment of the cosmetics industry, geographic diversity, solid liquidity and moderate financial risk profile, the agency said.
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