Macro Finance
Once-AAA Bonds on New York Megamall Face Over $350 Million Loss
Bloomberg Markets·August 7, 2026·1 min read
Pyramid Management Group is buying back the mortgage on a struggling megamall in Syracuse, New York, for cents on the dollar, mostly wiping out bonds that originally carried top ratings. The move implies a loss of over $350 million for bondholders, highlighting the mall's financial distress.
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