The Wall Street Journal
The balance sheets of many of the largest U.S. mall owners have managed to dodge much of the carnage in the retail world caused by failing retailers, according to a new report by Moody’s Investors Service.
Struggling retailers like Sears Holdings Corp. and Toys R Us Inc. account for only 3.9% of the total leasable space in the 22 retail real-estate investment trusts that Moody’s tracks. Only two REITs tracked by Moody’s— CBL & Associates and Washington Prime—face an exposure of over 10%, a level the ratings company deems to be “significant.” . . . more