Centro Properties on trading halt as deadline looms

SYDNEY: Shares in Australia's Centro Properties Group which is facing a Wednesday deadline to refinance heavy debts, were placed on a trading halt ahead of an announcement from the group. Centro,which owns 700 U.S. shopping malls, borrowed heavily last year to fund a rapid expansion and is under pressure to sell assets to raise cash. The stock has dropped as low as A$0.23 after trading above A$10 in May 2007.