redphoenix, page-3

rp,

Thanks for the vote of confidence. For the record, it doesn't always work out.. we just try and make sure the good ones outweigh the bad!

From the annual meeting today, it looks like B&B have got the message about the importance of investor confidence. They would have got a big jolt from what happened last week here.

This just came out on the wires:

(Begins)
0154 GMT [Dow Jones] Babcock & Brown (BNB.AU) shares up 3.6% at A$12.77 after confirms expects 15% growth in annual profit despite a difficult start to the year, and expresses confidence it can shore up stock price of Babcock & Brown Power (BBP.AU), which was hit by financing concerns last week. BBP securities up 1.6% at A$1.29 after BNB CEO Phil Green says, while weak credit markets have slowed BBP's progress in closing its refinancing, haven't impacted underlying quality of portfolio. "Based on the interests we have received from a wide range of parties, we are confident that we will be able to execute on a strategy which will demonstrate the underlying value of the assets and start to restore value for BBP security holders," he says. "We expect to make a number of positive announcements in this regard over the next few weeks." (RBT)
(ends)

I think we are going to see confirmation of refinancing very soon but the market reaction will be unpredictable, esp if it is accompanied by notice of asset sales. IMO, this one needs some short term close watching just in case. Long term though, I think it'll be sound.