Natura Cosmeticos’ rating was affirmed at BB+ by Fitch, with a stable outlook.
- Ratings reflect strong business positioning and brand reputation in the Cosmetics, Fragrances and Toiletries market
- Also reflects “diversified asset base, balanced against challenges to turn around Avon’s operations amid weak brand awareness, fierce competition and changing consumer behavior”
- Fitch expects Natura will maintain EBITDAR net leverage below 2.0x and “robust financial flexibility while executing the second wave of integration between Natura and Avon brands in Latin America”
- Fitch expects Natura’s EBITDAR to gradually improve to BRL4.0 billion (12.9% margin) in 2025 and to BRL4.8 billion (14.5% ...
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