valuation dates and book values, page-63

think you're missing the point.

CNP is not going into admisistration any time soon. The banks in the paranoid enviroment that currently prevails have agreed to an extension to December.

Commonsense would suggest Centro should not be trading @35c should it?

That is why downramping at this time serves no useful purpose apart from getting those with less conviction to sell their stock which I am sure they will regret at some point in the not so distant future.

If you cant do a good turn, don't do a bad one