Revlon Consumer Products Corporation -- Moody's reviews Revlon's ratings for downgrade on announcement to acquire Arden

New York, June 17, 2016 -- Moody's Investors Service, ("Moody's") placed the ratings of Revlon Consumer Products Corporation ("Revlon") under review for downgrade. These include the company's Ba3 Corporate Family Rating, Ba3-PD Probability of Default Rating, Ba2 senior secured bank credit facilities and B2 senior unsecured debt ratings. Moody's affirmed the company's SGL-1 Speculative Grade Liquidity rating. The review for downgrade follows the company's announcement that it has entered into an agreement to acquire Elizabeth Arden ("Arden", Caa1) for approximately $900 million. The acquisition is expected to close during the second half of 2016, subject to customary regulatory and closing conditions.

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