Moody's could cut Avon Products

Moody's Investors Service said it placed Avon Products, Inc.'s Baa2 senior unsecured and Prime-2 commercial paper ratings on review for downgrade.

According to the agency, the review was prompted by the ongoing challenges Avon faces to stabilize its operations and cash flow, potential for incremental restructuring actions and the risks associated with the company's settlement discussions with the U.S. Securities and Exchange Commission and U.S. Department of Justice related to compliance with the Foreign Corrupt Practices Act and associated U.S. and foreign laws.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.