jpm comment in today afr

I think we all need discussion on JPM comments, hence I started the new thread.
The comments are,

"net profit predicted $169 Million for Centro.
Gearing is dominant issue, and as asset values deteriorate in the US, leverage is likely to have pushed higher [for Centro] from last reported 82 percent ;look-through gearing levels or 92 per cent gearing ex-intangibles" it said.
"We think it's highly unlikely to sell enough assets to address the full debt load.. its fate looks still well and truly in the laps of its lenders."