I feel like this has been probably been explained many times on...

I feel like this has been probably been explained many times on this forum but, I will again try to explain it.

UK EARNINGS are devalued and UK DEBTS are devalued, this is all relative. I find it bizarre that people are posting like the devaluation of the pound has made the debt situation less of a problem, it has not.

If I could address one poster, how does an accounting entry make a bank less, or more likely to continue lending to a business?
"The pound went down and this debt looks lower on our balance sheet who cares what is happening with the business now and we better not force a capital raising, who feels like hot dogs?"

The only potential benefit is if SGH Australia has enough earnings to make a material impact on the UK arm's debt, it does not. Even then a 10%, 20% or even %50 appreciation of the $A is still nothing compared to whether the company is sufficiently cash flow positive in the first place.

How much did SGH Australia make last FY?
What impact would deploying that cash have on the UK debt pile after the $A debt interest payments, even with a stronger Aussie dollar?

The debt has not gone down in any practical way, seriously.