disappointing result

Another net loss. Revenue down, leases down, rent down (15%), occupancy down (8%), earning per share down to nearly a third...should i go on... NTA significantly down, property values down (6%), gearing up, no distribution, no light at the end of the tunnel for UBS pools.

If im reading it correctly RNY cant create/extend any leases on those properties included in both USB pools which ----if my eyes dont deceive me--- make up nearly 70% of their portfolio!!!!!!!!!!!!!!!!! christ.

This suggests RNY will slowly sink until they somehow manage to renegotiate the pools (which has been unsuccessful since September so i see no reason why this should change) or they will need to wait completely at the mercy of the market until property values improve but this is still no certainty that this will ensure the pools are refinanced.

could someone please tell me that its not that bad.