Yes quantarb I think you're probably right. I guess there are a few things to consider:
(1) is there an exposure and if so how much?
(2) is it insured? For example I understand the $500k owed by City Software was fully insured
(3) what is the probability of any debts being repaid e.g. in the event of a DSH buyout
(4) what are the timeframes of the above and any associated funding costs
Finally, if there is a residual debt how will it be funded? e.g. a rights issue, drawdown on credit facilities, withholding of dividends etc.
Given the uncertainties around this, I think it would be nice if DDR put out a little announcement just to scope out the situation as they see it.
DDR Price at posting:
$1.46 Sentiment: Hold Disclosure: Held
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