Once-AAA Bonds on New York Megamall Face Over $350 Million Loss

Once-AAA Bonds on New York Megamall Face Over $350 Million Loss

Pyramid Management Group, a shopping center developer, is buying back the mortgage on a struggling megamall it owns in Syracuse, New York, for cents on the dollar, mostly wiping out bonds that originally carried top ratings.

Pyramid Management Group, a shopping center developer, is buying back the mortgage on a struggling megamall it owns in Syracuse, New York, for cents on the dollar, mostly wiping out bonds that originally carried top ratings.
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Bloomberg — Markets (EN)




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