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JC Penney loses investment grade status over new strategy

Wednesday, February 22, 2012

Fitch yesterday downgraded JC Penney, stripping it of its investment grade status, as the US retailer plans a new strategy.

While Fitch argues that new pricing and cost saving measures to be rolled out over the next 12 to 18 months seem like a sound strategy, the jury is out on how well they will be received by the customer and how easily they can be executed. The rating agency has therefore downgraded JC Penney's issuer default rating from BBB- to BB+. 


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