Moody’s Investors Service hit J.C. Penney Co. Inc. with a credit downgrade after the company took on a new $1.75 billion loan.
The retailer’s long-term rating was cut to “Caa1” from “B3.” Ratings in the “Caa” scale are judged to be of “poor standing” by Moody’s. About $2.9 billion in debt was covered by the downgrade, and the outlook on the rating remains negative.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"