Moody's might downgrade Avon

Moody's Investors Service said it placed Avon Products, Inc.'s Baa3 senior debt rating on review for downgrade.

The review reflects Moody's concern that competitive, economic and structural headwinds will create challenges for Avon to stem revenue erosion and quickly execute its turnaround strategy. The agency is concerned that these challenges are creating pressure on cash flow, notwithstanding the company's ongoing efforts to improve operating effectiveness and streamline its cost structure.

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