J.C. Penney Debt Cut To Junk By Moody’sVW Staff
J.C. Penney Company, Inc. (NYSE:JCP) has had its debt cut by ratings agency Moody's Corporation (NYSE:MCO) according to a statement from the ratings firm. The retailer's debt is now rated Caa1, which qualifies as Junk under Moody's ratings regime. The move was not an unexpected one as the problems at J.C. Penney have come to a head lately.
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