27.09.2013 22:13:00

Penney (J.C.) Company, Inc. -- Moody's says: JCP's secondary offering offsets a higher than expected cash flow burn

New York, September 27, 2013 -- Moody's Investors Service today stated that J.C. Penney Company, Inc.'s ("JCP") recent sale of up to 84 million shares at $9.65 per share in a secondary offering has no current impact on JCP's Caa1 Corporate Family Rating, Speculative Grade Liquidity rating of SGL-3, and negative outlook.

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