Subject: Re: S&P weighs cutting BPG to junk
Thanks for posting. I am not disagreeing, just documenting here what Brian Kingston said about the debt maturities ladder for real estate (page 102 BN investor day slide deck).

2023     3%
2024    16%
2025    16%
2026    15%
2027+   50%

More than half matures 2027 and later. But that still leaves half maturing in the next 3 years. It's also worth contemplating what else will go to junk/hell if interest rates stay high for the rest of this decade!