Hahaha. There is a difference between interest rates and credit...

Hahaha. There is a difference between interest rates and credit spreads. Credit spreads (i.e. the rate above BBSW that companies pay to borrow debt) has risen from 100bp to about 900bp.

i.e. Centro once borrowed at around 8% (bbsw of 7% plus spread of 1%).
With massive dislocation in credit markets this funding source has now risen to 16% (7% BBSW + 9% spread).

Companies do not borrow at cash rates. They borrow at LIBOR or BBSW + a margin.

If I was you, before buying a high risk company I would at least try and understand how an organisation and its funding costs operate.

If you want to see how much a compnay like Centro borrows at look at

www.markit.com - look at CMBX and between BBB and BB rating.