You have a point there, however thing to understand that possibility of RBA rate staying up or remaining at the same level means VN8 probability to refinance to lower rate is also going down and 11.5% isn't any cheap rate either on it's own.
Second thing, consumer sentiment is reducing spend which means people and hence the business will get pain eventually, which isn't nice either for significant growth prospect.
everything is connected, however if company can pull out a deal from doom and glum environment then good on them otherwise risk remains high in absence of any material and tangible announcement in my opinion.
