Dark clouds descend on J.C. Penney: Moody’s

Dark clouds descend on J.C. Penney: Moody’s

J.C. Penney (JCP) continues to be beaten with the ugly stick by Wall Street ratings agencies, as it should be. On Monday, Moody’s downgraded the company’s credit rating to Caa3 from Caa1. A Caa rating, per Moody’s, is assigned to companies with very high credit risk. Moody’s also slashed its rating outlook on J.C. Penney […]