Revlon Inc. Up Big on Debt Restructuring (REV)

Revlon, Inc. bolted 20% higher today after the company announced a restructuring and refinancing of one of its divisions 9.5% 2011 senior notes.

This news also sparked a Moody's debt upgrade from B3 to B2. "While competitive activity for mass market cosmetics remains very high, Revlon's improved cost structure and debt profile should provide the company with sufficient financial flexibility needed to sustain market share in its core global brands while generating acceptable levels of profitability through ongoing investments in new product development," said Janice Hofferber, Moody's senior credit officer.

Revlon, Inc. finished up 19.45% to $10.07 on near 3x normal volume.