NEW YORK--(BUSINESS WIRE)--Fitch Ratings has downgraded Avon Products, Inc.'s (Avon) Issuer Default Rating (IDR) to 'BB-' from 'BB'. The Rating Outlook is Negative. Fitch has also downgraded the ratings on Avon's credit facility, term loan notes and senior unsecured notes to 'BB-' from 'BB' and assigned Recovery Ratings (RR) of 'RR4'. The assignment of the RRs reflects Fitch's 'Recovery Ratings and Notching Criteria for Non-Financial Corporates Issuers' criteria dated Nov. 18, 2014, which allow