JCP gets "junk" status

New York — Citing a weak first quarter and continued downward pressure on profits, Standard & Poor's, one of the big three corporate credit rating agencies, knocked J.C. Penney down a notch to 'junk bond' status.

S&P took the retailer's bank loan rating to 'BB+' from 'BBB-.' About $5.2 billion in debt is involved. The outlook, S&P continued, is "negative."

Home & Textiles Today Staff | News & Commentary

 Home Textiles Today is the market-leading brand covering the home and textiles markets, offering a comprehensive package of print and online products. Home & Textiles Today provides industry news, product trends and introductions, exclusive industry research, consumer data, store operations solutions, trade show news and much more.

Featured Video

  • The Countdown to the ICON Honors Continues featuring Christophe Pourny

    Camera Icon More Videos

CURRENT ISSUE

HTT digital edition

See the May 2017 issue of Home & Textiles Today. In this issue, we discuss our annual Market Basket survey, which finds higher prices and more polyester at leading retailers. See details!