I think we understand just fine.
Current situation
Revenue - costs = cash flow to pay debts.
If revenue is less as most is earned overseas and costs are on the main fixed, reduction in cashflow to pay interest and debt becomes and issue. Don't forget we are starting from a position where profit margin is already low as disclosed by NMS themselves . Any further drop is bad.
The other risk ofcourse is it makes NMS more uncmpetitive as countries with a weaker currency and cheaper labour can price work for less. I don't know if the info is available but I would be looking at the debt profile. The higher the percentage in debt in AUD the bigger the problem.
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