Ann: PaperlinX Step-Up Preference Security Distri, page-4

re: Ann: PaperlinX Step-Up Preference Securit... Had decided not to, then changed my mind and picked up some pxupa today after reading a pretty good review on FIIG (great site). Seems they are keen to pay a catch up payment if they can get approval from the banks.

Current net debt to assets quoted as 34% with the potential for further pay down with some inventory reductions. Cash flow still doubtful for 2010 which leaves considerable risk for future divs and will probably keep ppx sp under pressure. At $28 pxupa is pretty cheap debt on a company with a solid debt/asset ratio.