good points teo....
I am beginning to think along the lines that they prefer a longer working through with the banks.
IF they can maintain ebitda guidance FY09 of 405-415 through accountancy this will be good. I suspect that they are working through with the banks to accept their notional accounting ebitda instead of underlying decreases in the business.
ebitda FY09of 405-415million
net debt 2800 odd (minus cash and recent sales)
icr = 1.66
Thoughts???
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