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The construction shutdown in New York City is threatening the industry’s substantial debt risk. So reports Bloomberg.

moneyThe $66 billion industry features projects carrying close to $8 billion in construction debt over a two-year period. Lenders servicing those projects include Wells Fargo & Co. and Deutsche Bank AG. Further, “projects still on the drawing board that are looking for funding are probably out of luck for now,” according to the article.

Read the full story from Bloomberg.

Last modified on Saturday, 11 April 2020
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