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Avon Debt Downgraded by S&P

Despite CEO change, the outlook remains murky.

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By: TOM BRANNA

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Andrea Jung is gone, but Avon’s troubles are still here. Credit rating agency Standard & Poor’s on Monday revised its outlook on Avon Products Inc. to “negative” from “stable.” The outlook reflects Avon’s continued poor operating results and weak credit metrics, S&P said. On Thursday, direct beauty products seller Avon Products said its third-quarter net income fell 81%, hurt by the stronger dollar and an impairment charge. The comp...

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