Allcos arguement is that they cant offload assets at reasonable prices due to the current ecconomic condition, within the current deadline.
I agree that the interest rate cuts wont help allco in the short term, but long term will it is a step towards recovery, thus why Allco want an extension.
For the banks to extend the deadline for debt to be repaid then they will have to be confident that the ecconomy will be in a better state, and a decent asset sale will occur within the extension time granted. The recent rate cut can only be at a benifit for allco to acheive a decent asset sale.
Thats just the way i see it.
p.s I remember someone saying on here that soem of Allco's debt is variable with a fixed percentage margin on top?
can anyone confirm this?
allco get extension, page-6
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