Moody's: Avon view negative

Moody's Investors Service said it affirmed the Baa1 long-term senior unsecured rating of Avon Products, Inc. and the short-term rating of Avon Capital Corp. at Prime-2 but revised the outlook to negative.

Moody's said the negative outlook reflects the risk that the improvement in credit metrics over the next 12 to 18 months will not be sufficient to maintain the current Baa1 rating due to the risks associated with the company's multi-year turnaround.

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