New York, August 02, 2016 -- Moody's Investors Service, ("Moody's") today assigned a Ba1 rating to $400 million of senior secured notes being offered by Avon International Operations Inc ('AIO'), a wholly owned domestic subsidiary of Avon Products Inc. ('API' and together 'Avon'). API's other ratings, including the company's Ba3 Corporate Family Rating (CFR) and B1 senior unsecured note ratings, as well as its negative outlook are unchanged.
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