NEW YORK--(BUSINESS WIRE)--Fitch Ratings has upgraded the Issuer Default Ratings (IDRs) of J.C. Penney Co., Inc. and J.C. Penney Corporation, Inc. to 'B-' from 'CCC'. The Rating Outlook is Stable. A full list of rating actions follows at the end of this press release. KEY RATING DRIVERS A pathway to $1 billion in EBITDA: J.C. Penney has demonstrated a meaningful turnaround in its business over the last seven quarters and Fitch expects the company to generate EBITDA of approximately $650 million
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