May 10 - Fitch Ratings today placed the ratings of Avon Products, Inc., (Avon) and Avon Capital Corporation (Avon Capital) on Rating Watch Negative. The rating action follows Coty, Inc.'s (Coty) preliminary, non-binding offer to acquire Avon's outstanding shares. If the offer is accepted and is financed with significant amounts of debt the combined entity's credit protection measures would not be in the current rating category. A full list of ratings follows at the end of this release. In i