The latest store closures announced by J.C. Penny and Macy’s will impact around $479 million in securitized commercial mortgages, according to Fitch Ratings.

J.C. Penny plans to shutter 40 stores by April. Fitch said in a report published today that nine of these stores are tenants in malls backing commercial mortage bonds rated by Fitch; another four are real estate owned (REO) and the remaining 27 represent less than 3% of exposure in their respective CMBS deals.

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