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With Virus Stalling Turnaround, JCP Sees Credit Rating Suffer

Stores are opening but will consumers return? Join Cushman & Wakefield and rue21 for the Retail in Recovery webinar June 17 at 2 pm ET.

Moody’s downgraded J.C. Penney Co. Inc.’s corporate family rating as the retailer reportedly explores debt deal options. On Monday, the credit ratings firm lowered the retailer’s corporate family rating to “Caa3” from “Caa1,” and downgraded other ratings, such as its senior secured ABL Revolving credit facility and senior term loan notes. Moody’s also revised Penney’s…

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