Jimmy _C
suggest you take issue with Chanticleer.
The point the writer is making is that Centro's problems do not fall into the same category as the other high profile "bad boys".
Comparisons could more appropriately be drawn with other LPT's. the difference being that Centro's gearing is now much too high for comfort.An LVR of 73 is too high. However, in the past(*2007 BCC) commercial lending @ 75% whilst high, many deals would have been done at this level if servicability was evident (which in Centro's case it clearly was/ and is)
*2007 before Credit Crunch
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