What part of the last update made you think it was a precursor to a downgrade?
Genuinely interested. If I was a CEO of a company that was facing a downgrade the last thing I'd be doing is putting out an update for which the only items mentioned are referred to as not material to earnings. At the very least I'd be surprised if anything was imminent.
I took the announcement as they were managing the drought ok and bought in on that basis. I expected bad news but didn't really find any.
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