baron, mate, how can you say centro has alot more going for it...

baron, mate, how can you say centro has alot more going for it than afg. i agree it has alot more debt.

afg has a clear plan and a clear deadline - reduce debt to $400m by september 2009. that is much more definitive than anything cnp has come up with.

also afg has started selling assets - mainly infrastructure assets that are much more marketable in this market.

centro is extremely dependant on property valuations given the enormous leverage throughout the group. it has been reported just a 10% drop in property values would completely wipe out centro's equity. they have to get book value to preserve equity, but there's no way they can do it in this market.

tick tock