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Fitch Ratings Questions J.C. Penney’s ‘Untenable’ Capital Structure

When it’s deliver-or-die, supply chains become the lifeblood of a company. To that end, the fashion industry has embraced technology to navigate today’s hyper-complicated supply chain, with myriad solutions shaping the first, middle and last mile. Call it Sourcing 2.0.

Fitch Ratings on Wednesday downgraded J.C. Penney Co. Inc.’s issuer default rating to “CCC+” from “B-,” putting the retailer’s loan debt in junk territory. The credit ratings agency said the downgrade reflected continued market share losses and declining EBITDA (earnings before interest, taxes, depreciation and amortization), with “lack of visibility for a material turnaround” although there…

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