Cedar Shopping Centers owns and operates around 12.1 millionsquare feet of supermarket-anchored shopping centers. Canvassingnine states, the company's reach extends from Virginia toMassachusetts.

Company CFO Larry Kreider says, in a press release, that Cedarwill have no debt obligations maturing until 2010. He added thatCedar anticipates arranging another extension beyond 2010, or a newthree-year facility to help finance $228 million in developmentsthat had been put in place this past June and September.

Steven Marks, managing director of REITS at FITCH Ratings inChicago offered general perspective on Monday's news, saying theoverall state of the commercial debt capital market is not well."There are other companies, private entities and funds that wereformed and [they] bought a lot of assets recently--say [in] 2006and 2007," he adds. "Some of those companies have had toliquidate."