Financial OutlookReflecting the more modest total return, the rating for RioCan REIT is now a HOLD, down from a previous Buy.
HBC Liquidation ImpactRioCan has significant exposure to Hudson's Bay Co., which is undergoing full liquidation, leading to a negative near-term impact on RioCan's portfolio and cash flow.
Re-tenanting CostsRe-tenanting large spaces from the HBC sites can be both timely and expensive, leading to substantial costs for redevelopment.