asset sales to reduce leverage, page-9

If CER was able to lower its gearing it would be more likely to be able to pay a regular dividend.

Read some of the Centro MCS releases. They are stopping some dividend payments to reduce the LVR. Some are selling Centres and will then be able to start up dividends again.

CER would also be better off lowering its LVR as it would be more likely to be able to raise capital at better prices.

When the market starts recovering they will then be in a better position to buy new assets.

I have stated this before on the CNP postings. I think CNP made mistakes by not selling some of their assets at reduced prices early on. Yes they would have lost money - but they ended up lowering the value of these properties anyway at June 30 and probably Dec 30. CNP may not be in the bankers hands if they did this.