babcocks slippery slope, page-45

lp2

with all due respect i think you are talking rubbish.

the banks are not in work out mode and to suggest they would shows you do not know what your are talking about.

The banks are/have/continue to do so ona regular basis for all investments is review the underlying business/risks/opportunities. This has very little to do with SP as we can see in the broader market today.

As the press release from BNB states 'Operating cashflow for the half year to 30 June 2008 is expected to be
approximately 60% above the result for the previous corresponding period.'

As a banker I would tell you this does not imply a risk, in fact quite the opposite, it shows capacity to repay debt and future growth.

That being said the non cash impact that will effect profit and confidence is unacceptable from BNB and should have been earlier, but I would suggest to you that the bankers and auditors may have had something to do with it. And the upcomming review of the business model, which we all know will be positive