Moody's ups J.C. Penney view to positive

Moody's Investors Service said it affirmed J.C. Penney's Co. Inc.'s debt ratings, including the corporate family rating of Ba1, the $1.2 billion senior unsecured bank credit facility at Ba1, the senior unsecured notes at Ba1 and the speculative grade liquidity rating of SGL-1.

The outlook is changed to positive from stable.

Moody's said the change in outlook was prompted by the company's continued solid operating performance and free cash flow generation; continued solid liquidity and healthy leverage metrics, as well as the company's smooth leadership transition following Myron Ullman's appointment as CEO, including retention of its senior management team.

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