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

Join us on January 26 at 11 am ET for a webinar with Lenzing, TextileGenesis and sustainable brand ArmedAngels for a discussion on how they’re using Fibercoin technology to realize traceability’s benefits to sustainability, brand loyalty and risk mitigation.

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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