is this honesty

In January I queried Rubicon re their plans for hedging RAT & REU.

This was their response.

Tue 29/01/2008 11:42 AM

It is our intention to hedge distributions and foreign capital for the long term. The current 6 - 7 year terms are expected to be maintained going forward.

Furthermore we expect to be able to maintain distributions at current levels (in AUD) into the future given the current structure of the Trusts
We are reporting our full year 2007 results for RAT (18 Feb) and REU (25 feb). An operating update will be provided at this time

I'm still a holder, but I'm not impressed.