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WPG - Washington Prime stock climbs 2.2% after a fourth forbearance extension
Washington Prime Group Inc.
Washington Prime Group (WPG) stock gains 2.2% in premarket trading after the mall REIT gets another forbearance extension, this time until May 12, as it continues to negotiate with noteholders and lenders to rework its capital structure.Its previous forbearance agreement was set to expire today. It's the fourth extension after the company skipped a $23M interest payment in February.In mid-March, the company confirmed it was considering Chapter 11 bankruptcy proceedings.