New York, June 23, 2016 -- Moody's Investors Service, ("Moody's") downgraded Avon Products, Inc.'s (Avon) Corporate Family Rating (CFR) to Ba3 from Ba2, Probability of Default Rating (PDR) to Ba3-PD from Ba2-PD, and the senior unsecured instrument rating to B1 from Ba3, concluding the review that was initiated in December 17, 2015. The rating outlook is negative.
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