Report: Macy’s upcoming store closures turns up heat on debt

Macy’s recently announced plans to close some 100 stores could do more than leave developers looking for a new anchor.



Nearly $30 billion of bonds backed by commercial mortgages are exposed to the retailer, reported Bloomberg, citing a note by Morningstar Credit Ratings. And more than $3.6 billion in loans would be affected by the closing of 28 stores that Morningstar identified as being most at risk, the report said.



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