The Cobaininator! Rise of... The Guitars?, chapter 1

Billie Joe, Mike and Tre were just after finishing practice, it was eleven at night and they were heading home.
"Sure you don't wanna stay at my place Billie? I mean, it'll be pretty lonely at your place." Tre asked as the walked out.

"I know, I miss Adie and the kids, but no way was I going to visit her mom again! But don't worry Tre, I'll be fine. They're coming home in 2 days, and the house is a wreck. I've gotta go tidy it up. See ya later." They all got in their cars and headed home.
Billie Joe got home, he brought his black Gibson into the G room and put it on the stand.

He looked at all the copies of his blue Fender... It made him remember of what had happened all those years ago. when he had bought that red Fender. He shrugged. He turned around.
"Oh fuck!" He shouted.

On the wall. was painted in red.
BEWARE! THE OWNER OF THE CURSED, HAS RETURNED! AND HE HAS ALREADY DE-
And that was it, the sentence wasn't finished.
Billie Joe started sweating.
"Someone's just fucking messing with me, it must be a teeny bopper or something..." He walked into the kitchen.
There was guitar strings all over the floor, he looked at the wall.
On it was the initials KC.

What did it mean?

Billie Joe ran into the sitting room and headed for the phone.

He searched for it, and to his shock and amazement. on the couch was the red Fender stratocaster, signed by Kurt Cobain.

"The initials..." He said.
Someone grabbed his shoulder...