General Growth Properties, a Chicago-based real estate investment trust, is denying news reports and blog postings alleging that the REIT may default on its debt obligations or file for bankruptcy. In a news release addressing the rumors, the retail REIT said the company "would ordinarily not respond to these types of statements and suggestions," but decided to do so "in light of the current fragile condition of the real estate capital markets." According to GGP, the company's property portfolio has a strong $15 billion equity position over and above the debt associated with it. In addition, various mortgage loans are available to the company if required. GGP also reported that its malls are well occupied, with long-term leases in place. Earlier this year, GGP had issued a release on the financing plans and options for its retail property portfolio. The REIT can be found online at http://www.generalgrowth.com.

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