update, page-2

this is first bit of good news!

The CRE facility of 117 now would according to my figures be 117/260 or 45% gearing to the loans. Yes higher if you use mark to market, but look at the cb-16 loans - paid in full!! These are blue chip tennants not your local corner store

They have now 3 months before any major payments are due, all they would need is one sizable property sale and they are home and hosed

Maybe not as risky as evryone thinks. I think in 3 months times these will be back up to at least 40 cents if not 50