“Current plan is still to refinance those out with cash on hand. But to the extent we were to see opportunity to do alternatively or the market opened up with tight spreads, certainly, we could access the market in the back half of the year as well.”

In context

“on kind of the upcoming debt maturities in the back-half of the year and how to fund those versus how much cash to keep on hand versus, David, maybe your commentary about the gap between you and others, your ability to be on the offensive to make investments now that if we do go into recession by the time they're done, you're kind of on the other side of it and you're well-positioned. So I'm just kind of curious, I know it's a broader question, but just how kind of the softening rate environment here, does that change anything you're doing or how you want to be positioned on the margin? Brian McDade: Craig, it's Brian. Look, one day doesn't really change our financing plans for the year. We're sitting on $3.1 billion of cash. We had $1.9 billion in maturities in the back-half of the year. Current plan is still to refinance those out with cash on hand. But to the extent we were to see opportunity to do alternatively or the market opened up with tight spreads, certainly, we could access the market in the back half of the year as well. But no current plans to do so at present. David Simon: Yes. And I would just say, look, we got $11 billion of liquidity, so obviously a lower interest-rate environment does increase our earnings potential. There's all sorts of things associated with a lower interest-rate environment, but by and large, that's beneficial to real estate. So if that's the case, that's going to be better than what we planned initially for this year and what we were thinking for next year. So that's good news in a nutshell. But again, remember, we got -- we're not living, mortgage to mortgage, we're a different kind of company. So we don't have the Holy Toledo, I'm going to say another word, Holy Toledo, we can't refinance this mortgage. So anyway, so -- but by and large, if rates go lower, that's better for th”