properties are a billion dollars short, page-17

Warnie,

It will indeed be intersting.

Don't know if they need to sell anything.

As you point out, their gearing is fine.
And their abilty to service their loans is fine.

The problem is not with Centro having done anything wrong or being a bad credit risk.

The problem is with the banking system.

I do believe between now and Feb 14th the banks will sort themselves out in some form or another.

And if I were a bank I would be pleased to loan an AAA grade credit risk company like Centro the funds.
With all the dodgy loans out there, having Centro as a customer would help balance and stabilise the loan book.

Maybe they will sell off a few properties along the way, but with the vultures circling they probably would not get book value for them, so thats maybe not such a good plan right now.

But just to stir the pot I'll start a rumour

This is exactly the sort of situation Warren Buffett thrives on.
When a company with a sound business has temporarily fallen out of favour.

There !

That should do it.

Reckon they'll be 5 bucks by lunchtime.

ROFL























, it is with the banking system right now.


It is effecting all sorts of situations