Ann: Quarterly Activities & Cashflow Report June'18, page-255

I'll follow your lead here. At the moment I can't see BLK being investment grade. They have a lot to prove, and with that I mean forecast and be honest about it. All we want is a plan, and a management team that will actually do what it takes to achieve the plan. Talking and yap yap yap is cheap. That's what management has done instead of executing . Talk is cheap, hence SP will be battered into cheap territory. Nobody will pay any risk premiums anymore to be in BLK.