S&P ups Avon Products outlook to stable

Standard & Poor's said it revised its outlook on Avon Products Inc. to stable from negative.

At the same time, S&P said that it affirmed its ratings on the company, including its A long-term and A-1 short-term corporate credit ratings.

The agency noted that the outlook revision is based on Avon's progress in stabilizing operations and success in implementing its multiyear restructuring program initiated in November 2005.

S&P added that it expects the company to reap the benefit of its cost-savings initiatives, strengthen its margins and maintain strong credit protection measures in line with its A rating over the intermediate term.

© 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.