- Affirming J.C. Penney's (NYSE:JCP) Caa1 Corporate Family Rating, Moody's boosts its outlook to stable from negative, prompted by the sale of $400M in senior unsecured notes, the proceeds of which will be used to fund partial tenders for paper coming to maturity over the next three years.
- "Moody's views this financing as a credit positive event as it will push out J.C. Penney's 2015 maturities and a portion of their 2016 and 2017 debt maturities."