Avon Ratings Placed On CreditWatch Positive
Avon Products Inc. announced that it has been in preliminary discussions with Natura Cosmeticos S.A. regarding a potential transaction. It is understood Natura could be seeking to acquire Avon's operations.
Natura has global operations in cosmetics, fragrances, and hygiene products and includes Aesop and The Body Shop as some of its brands.
S&P has placed all its Avon ratings on CreditWatch with positive implications with the outcome dependant on the post-transaction issuer credit rating on Natura and the level of support that it might provide to Avon.