It will be interesting to see what the auditors say in the annual accounts. It remains to be seen whether they give an untagged report or whether it contains some provisos as to the rollover of their debt.
One of the key risks for me is that there are quite a few companies with loans from European banks that are now under quasi control of the govts providing their guarantees and these govts have little concern for the fate/welfare of Australian companies.
I would like to see BBI use any asset sale moneys to reduce/clear these banks from their corporate facilities and leave themselves with a higher proportion of local banks as their corporate facility lenders so that these facilities can be managed down in a more orderly manner.
BBI Price at posting:
11.5¢ Sentiment: None Disclosure: Not Held
