gg99rush,
You point above that the Debt and IO are both in USD, creating a hedge.
However, most of the opex will be in AUD and gain from the lower AUD.
While it is certainly not a straight line correlation, I can't see how KML are not better off now with a weaker AUD.
Broker reports prior to the GFC used long term AUD in the eighties.
cheers
Surly
this could end badly, page-22
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