dargie, obviously it's down to how everyone interprets things...

dargie, obviously it's down to how everyone interprets things and risk tolerance and so on, but do you believe that if the current position does not change, BBI will have to follow a similar route to BNB with a debt to equity swap?

That would be a fair opinion, but if you ask me, there is only an extremely remote chance of that happening. Usual cash flows plus the sale of assets and lack of dividends, are more than enough to cover their repayments on debt facilities.

And the banks would be silly not to allow extensions to their loans, it's clear that BBI is capable of meeting all it's obligations, but they're now trying to do so without sacrificing revenue too much.