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    Christy McElroy

    Research Analyst at Citigroup

    Christy McElroy's questions to CBL & ASSOCIATES PROPERTIES (CBL) leadership

    Christy McElroy's questions to CBL & ASSOCIATES PROPERTIES (CBL) leadership • Q4 2019

    Question

    Christy McElroy of Citigroup inquired about the potential for debt forgiveness from restructuring talks, whether a larger debt workout is being considered, and the company's position relative to its debt covenants, specifically the interest coverage ratio.

    Answer

    CEO Stephen Lebovitz stated the primary focus is on secured debt maturities in 2020-2022 and declined to comment on specifics regarding broader restructuring or unsecured debt. CFO Farzana Khaleel added that while the interest coverage ratio has declined, the company still has sufficient room and is actively working to improve it by reducing debt levels and interest expenses.

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    Christy McElroy's questions to CBL & ASSOCIATES PROPERTIES (CBL) leadership • Q4 2019

    Question

    Christy McElroy inquired about the potential magnitude of debt forgiveness from restructuring talks and whether a larger, comprehensive debt workout was being considered. She also asked about the company's compliance with debt covenants, particularly the debt service coverage ratio.

    Answer

    CEO Stephen Lebovitz reiterated the focus on near-term secured debt maturities but declined to quantify potential outcomes of restructuring efforts. CFO Farzana Khaleel addressed the covenant question, confirming the company has sufficient room and is actively working to improve the coverage ratio by reducing overall debt and lowering interest expenses through strategic loan payoffs.

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