Good article just released. Results will be announced tomorrow. I feel that SP will fly anytime.
Feb 23 (Reuters) - Australia's Centro Retail Trust had several options to address its debt problems and asset sales were not the only option as property and financing market have improved, the firm's chief executive said on Wednesday.
"Our need for a restructure and our need for recapitalisation... is critical as ever. So nothing has changed in that regard. What has changed is the range of options that we have," Chief Executive Robert Tsenin told a media briefing.
"The property market and the financing market have improved. It has given us a range of options that 12 months ago, frankly we just didn't have."
Comments from Tsenin, who is also the CEO of Centro Properties, come as local newspaper have speculated Centro Properties was leaning towards selling only its holdings in the United States and might retain key Australian shopping centres and mull recapitalisation as better market conditions helped investor confidence rebound.
"They (investors) see values in assets but rather than buying them they see an opportunity to help fix the capital structure of the various entities in the group," he said.
CNP Price at posting:
15.0¢ Sentiment: Buy Disclosure: Held
