Getting your player ready...
CINCINNATI — Shares of Macy’s Inc., the second-largest U.S. department-store company, jumped their most in almost 17 years in New York trading after it negotiated a more flexible bank-credit agreement to remove doubts about its ability to pay off $950 million in debt maturing next year.
Macy’s now needs less cash flow relative to the amount of interest it pays to satisfy its bankers, fund manager David Heupel said.
