Moody's Downgrades J.C. Penney's Rating

The debt watchdog expects the retailer’s gross margins to “severely decline” in the fourth quarter as the company clears excess inventory.

By Evan Clark

financial/news

Moody’s Investors Service sharply cut its credit rating on J.C. Penney Co. Inc. Tuesday.

The debt watchdog downgraded the retailer’s corporate family credit rating three notches...

Moody's Downgrades J.C. Penney's Rating

The debt watchdog expects the retailer’s gross margins to “severely decline” in the fourth quarter as the company clears excess inventory.

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