New York, July 03, 2013 -- Moody's Investors Service said Avon Products, Inc.'s (Avon) announced agreement to sell its Silpada jewelry business to Rhinestone Holdings, Inc. for $85 million is modestly credit positive by eliminating an under-performing asset while providing additional cash to reduce debt. Avon's Baa2 senior unsecured debt rating and stable rating outlook are nevertheless unaffected because Silpada is not significant in relation to the consolidated company and anticipated weakness at the business was already factored into the rating. For further information, please see the issuer comment posted to www.moodys.com.

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