By and  on February 3, 2009

Lenders lengthened General Growth Properties Inc.’s financial lifeline to March 15, giving the real estate giant six more weeks to cope with debt assumed while it built a portfolio of more than 200 malls.

Investors pushed General Growth stock up 30.8 percent to 85 cents Monday, but the issue is still a fraction of its 52-week high of $44.23. The company said lenders agreed to extend the forbearance periods on its 2006 senior credit agreement and its secured portfolio facility, which were set to expire last Friday.

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