I haven't seen them say Centro are on the brink, but I'm happy to be wrong if someone else has. I think what they actually said has got lost in translation somewhere.
According to the research report from 15/7 "CNP sale positive for comps", they have an Underweight rating on the stock. I wrote a piece on them a couple of days back:
http://www.hotcopper.com.au/post_single.asp?fid=1&tid=714906&msgno=3135644#3135644