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