I’ve been a long-running bear critic of the CBL & Associates (CBL) saga going on two years now. That bearishness has primarily been driven by an extremely tight capital structure that has left little room for operational improvement. Has that now changed that the company has refinanced its nearest term maturities?
While everyone has been quick to break out the celebratory champagne on the news of the credit facility recast, taking management’s party line that the facility gives them flexibility to execute on their strategy, it seems no one bothered to wait until