Avon Suffers Two-Notch Credit Downgrade

Due to “persistent operational issues and increasing external headwinds,” Avon Products (AVP) was downgraded Friday by Standard & Poor’s Credit Ratings. The downgrade from double-B to single-B-plus took the company’s rating down two notches. S&P credit analyst Jacqueline Hui said in the release: Our two-notch downgrade on Avon is a result of our downward assessment [...]