The coronavirus-induced economic stagnation has led to a declinein retailers' credit quality and has been bad news for commercialmortgage-backed securities issued for real estate with retailtenants.
A Moody's Investors Service Inc. report said that overall thepandemic has been bad news for US retailers' credit quality andCMBS loans for retail properties but concluded that the impactvaries across the sector.
Department stores have been the most severely impacted type ofretail, especially those department stores that are in enclosedmalls and without direct outdoor access. Consumers abiding bysocial distancing recommendations are expected to be wary ofvisiting enclosed malls.
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Lidia Dinkova
Lidia Dinkova covers South Florida real estate for the Daily Business Review. Contact her at [email protected] or 305-347-6665. On Twitter @LidiaDinkova.
