Macro Finance
Once-AAA Bonds on New York Megamall Face $350 Million Loss
Bloomberg Markets·August 7, 2026·1 min read
Pyramid Management Group is buying back the mortgage on a struggling megamall it owns in Syracuse, New York, for cents on the dollar. This move will mostly wipe out bonds that originally carried top AAA ratings, resulting in a $350 million loss for bondholders.
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