Fitch on JCP: Watch those CDS spreads

|By:, SA News Editor

Fitch Ratings weighs in on J.C. Penney (JCP -3.8%), taking note of the widening spread on the retailer's five-year credit default swaps.

The ratings agency now sees cash burn of $2.8B-$3.0B for JCP this year, much higher than its earlier forecast.

Fitch Ratings PR