New York, November 02, 2015 -- Moody's Investors Service ("Moody's") today affirmed Coty Inc.'s ("Coty") Ba1 Corporate Family Rating (CFR) following the company's announcement that it has signed a definitive agreement to acquire the personal care and beauty business of Brazilian consumer product company Hypermarcas S.A.("Hypermarcas") ( Ba2 stable) for approximately $1 billion. Moody's also affirmed the company's Ba2-PD Probability of Default rating and the (P) Ba1 senior secured rating on the company's senior secured bank facilities. Although the acquisition is sizeable, it will only have a modestly negative impact on the company's credit metrics and will give Coty access to the Brazilian market, where it currently has no presence. At the same time, Moody's views the transaction as aggressive, particularly so close on the heels of the company's very large acquisition of Procter & Gamble Company ("P&G") (Aa3 stable) beauty business announced in September 2015.

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