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With Virus Stalling Turnaround, JCP Sees Credit Rating Suffer

The Rivet 50 is calling for nominations for leaders in the denim industry in 5 categories: design, influencer, leadership, sustainability and supply chain. Nominations close on May 23.

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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