bloomberg headline a bit scary, page-16

Quote, "The first question any suitors will ask is 'What is your true position'. ie your true debt levels as this is critical to ascertaining a takeover bid. Otherwise the only other real option is selling of assets individually where debt still remains CMPs concern not the buyer's.

Or they are able to refinance. It appears from this announcement that the refinancing option is not viable in its current form."

Well said, This_is_it!

The key question to CNP is still "What is your true position", and CNP so far has tightly hidden its true overall debt ratio. The announced debt ratios of CNP syndicates only served to fool the public and no banks would believe them and refinance CNP.


I guess, as some HC members already suggested, the whole CNP's real debt ration should be around 90%. If this were true, only a 10% reduction of its assets value in a fire sale would simply wipe out its whole equity. Alas!