Debt

Ratings agency warns on Avon Products’ debt levels

Ratings agency warns on Avon Products’ debt levels

By Simon Pitman

Years of poor performance have taken a big toll on Avon Products' balance sheet, with credit ratings agency Fitch Solutions now warning that the cost of protecting the business from defaulting on debt payments is at a record high.

Kanebo drops talks with Kao

Kanebo drops talks with Kao

Kanebo, the second-largest cosmetics maker in Japan after
industry-leader Shiseido, has decided to abandon plans to sell its
core cosmetic unit to Kao. Instead the company is to ask the
Japenese government to help slash its debt in...

Revlon to reduce debts

Revlon to reduce debts

Revlon has announced it is to eradicate $780 million of debt by the
end of 2004's first quarter. The troubled US company - reporting a
net loss of $153.8 million for 2003 - has signed an agreement to
reduce debt by 50 per cent.

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