Charleston Town Center Mall Defaults on Loan

Charleston Mayor Danny Jones said the Charleston Town Center will default on a multi million-dollar loan today. Eyewitness News says that according to Fitch Ratings, an international credit rating agency, the Charleston Town Center will will default on a loan of more than $93,096,000 when the loan matures. The loan has been transferred to a special servicing firm that collects on mortgages that are in default or delinquent. The mall will be working to negotiate a new deal and no stores should be affected.