BPYU - Brookfield Property Partners: Living With The Coronavirus For Half A Year

• Overall, the business is doing fine, considering the dire circumstances.
• Balance sheet numbers already reflect impairments on retail assets and won't be harmed further even if some malls fail entirely.
• Distribution is rather safe despite the elevated payout ratio, but growth is not expected.
• Cash flows from asset disposals will go to repayment of the retail and corporate-level debt, so repurchases are also unlikely.

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