Avon Products, Inc (NYSE:AVP) latest $500 million 3 year term loan maturing in June 2015 got ‘BBB’ rating from Fitch Ratings. Fitch anticipates that much of the proceeds would be used to lower commercial paper balances totaling $754 million at March 31, 2012.
Avon’s commercial paper program is for an increasing face amount not to surpass $1 billion and with maturities not to beat 270 days from the date of issue. Commercial paper is usually not redeemable earlier to maturity and is not dependent on voluntary prepayment.
Avon mentioned in its previous quarterly filing that demand for its CP had moved down. Fitch anticipates that leverage may be provisionally more than normal at quarter end given that the facility funded on June 29 and CP maturities may partially expand past that date.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. Inter Parfums, Inc. (NASDAQ:IPAR) fell -1.28% to settle at $17.78, Estee Lauder Companies Inc (NYSE:EL) moved down -1.53% to end at $54.65 while Revlon, Inc. (NYSE:REV) jumped +0.20% to finish on Friday at $14.73.
Avon Products, Inc. (NYSE:AVP) last session volume of 4.64 million shares was lower than its average volume of 4.95 million shares. The stock after opening at $16.35 hit high price of $16.72 and then closed at $16.47 by scoring -1.08%.
AVP generated revenue of 11.24 billion in the following twelve months and earned $392.40 million. The Company showed a positive 3.58% in the net profit margin and as well as in its operating margin which remained 6.05%. Company’s annual sales growth for the past five year was 5.20%.
The AVP past twelve months price to sales ratio was 0.63 and price to cash ratio remained 5.76. As far as the returns are concern, the AVP return on equity was recorded as 22.69% and increased 8.39% return on investment while its return on asset stayed at 5.13%.
The stock showed weekly upbeat performance of +6.60% which was maintained for the month at +0.98%. Likewise the negative performance for the quarter was recorded as -28.89% and for the year was -39.93% while the YTD performance remained at -3.51%.
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