Providence Place financial picture gets darker with Macy’s spot uncertain

PROVIDENCE PLACE appears to be in financial trouble as the future of Macy’s spot in the mall is uncertain /PBN PHOTO/MICHAEL SALERNO

PROVIDENCE – Providence Place’s financial challenges appear to be growing with the uncertainly of Macy’s future at the mall. In June, Kroll Bond Rating Agency downgraded all six of the classes it rates from the mall’s commercial mortgage-back security. In announcing the downgrade, KBRA said the borrower has indicated to the loan servicer that the

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