cnp nta now 0.28

Revaluation blow to Centro syndicate investors
Abstracted from The Australian Financial Review

Revaluations have pushed the loan-to-valuation ratio on Centro Properties Group assets much higher. In late December 2008, the group announced that revaluations on two shopping centres had resulted in a 17 per cent reduction to their worth. The new 89.3 per cent loan-to-value ratio is well past the limit set by Centro's banking covenant. Meanwhile, net asset backing has dropped to $A0.28

http://www.businessspectator.com.au/bs.nsf/Article/Revaluation-blow-to-Centro-syndicate-investors-N3S44?opendocument&src=rss