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Avon International Operations, Inc. -- Moody's assigns Ba1 rating to Avon's new senior secured notes

Moody's Investors Service ("Moody's") has today assigned a Ba1 rating to the proposed $350 million senior secured notes to be issued by Avon International Capital, PLC (AIC), a fully owned subsidiary of Avon Products, Inc. (Avon), and has simultaneously placed the rating under review with direction uncertain. Avon's B1 corporate family rating, B1-PD probability of default rating and B3 senior unsecured notes rating, all of which are under review with direction uncertain, as well as the Ba1 senior secured rating on the $500 million senior secured notes due in 2022 issued by Avon International Operations, Inc.'s ("AIO"), remain unchanged.