GGP is set to emerge from bankruptcy on strong financial footing

07/18/2010 | Sun (Baltimore), The

General Growth Properties should emerge from bankruptcy in a strong position to attract tenants and make renovations to existing properties, analysts said. The REIT filed a reorganization plan with a bankruptcy court last week that, if approved by the judge, would eliminate much debt. "GGP is coming out of bankruptcy as a company with significantly lower debt that is better capitalized and more focused," according to Nate Isbee with Stifel Nicolaus. "To the extent there is a need to spend money to keep the properties fresh and to keep them going, you're going to see that money being spent."

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