Moody's affirms Centro NP

Moody's Investors Service said it affirmed the senior unsecured debt ratings of Centro NP LLC (formerly New Plan Excel Realty Trust, Inc.) at Caa1.

The company said its lenders provided a one-month interim extension to the Dec. 15 refinancing deadline for U.S. and Australian debt in order to allow time to complete documentation for the refinancing and stabilization plan, according to the agency. Ratings remain on review for downgrade.

These actions reflect the $370 million facility being provided to Centro NP's parent Super LLC to repay debt and Centro NP's currently outstanding $307 million revolving line of credit being extended for two years, the agency said.

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