allco have essentialy 2 debts. one bridging loan which was due early may for $250 mil. and a $950 mil senior debt. $250 mil has been extended to 30th may and so has review on $950 mil. it is likely through asset sales that $250 mil bridging will be sorted by 30th may and leave approx $870 left on senior debt which is still up for negoitiation. given the talk by banks that they would be happy if this reduces to $400mil by mid 2009 and AFG's assets, co-operation by banks would lead one to believe that the company is sound and long term they will survive and prosper. they have a solid and growing business with rail, shiping and aviation etc.
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