If they announce an SPP that the lenders will support, with no change to pricing and waivure of covenants for 12 months - it is good in my opinion. I have cash on the side for this one.
If the lenders are adding a huge default margin to their interest rates, and/or force a desperate sale of all properties - that is bad.
If another three months extension or so of the same terms and conditions to see what happens - that is good too!
I think the first will happen, but who knows?
GJT Price at posting:
5.9¢ Sentiment: None Disclosure: Held
