asset sales to reduce leverage, page-5

Sarc,

You need to look at this on a per asset basis. All those numbers are not just headline amounts they actually mean something.

If one single asset is sold for just 1 dollar below book value then gearing ratio increases it's as simple as that.

Liabilities are reduced and assets are reduced too. The freeing up of cash or reduction in overall borrowing amount is not the point I was trying to make.

My preference is continued banker co-operation and support with no asset sales.....