investor services update, page-13

I think we should be a bit understanding of CER's position. Their announcements say more about their thinking than you may at first realise (and what they do see as material and don't see as material).

I think they must be very careful with their announcements, and need to carefully provide appropriate contexts, as their reputation has been tarnished. They have a court case against them for misleading the market. Possibly there is some potential bad news arising (and small good news, then big bad news would be a bad look), or possibly there is a confidentiality clause of some sort, or an escape clause for the purchaser in the contract of sale.

I'd say they are in discussions about rolling over the debt coming due this calendar year, and that is their big concern, and should be the markets concern. They do announce successful rollovers of debt. I think that is their main game, with property sales being important inputs, but not the big issue.

Don't get me wrong - I'd love to see more announcements of smaller stuff.