BBP 0.00% 9.5¢ babcock & brown power

i think it's all over

  1. 14,880 Posts.
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    Unfortunately, the business is not performing well enough to even cover interest costs. Poor management to have the power plants not working and unable to supply Sth Australia when the heatwave was on back in January. Huge question marks over the BBP management team. The revised normalised EBITDA figures don't even cover their interest costs on my numbers.
    I'd say the banks will do a re-structuring here and jack up the interest rate ala BNB and basically stuff BBP securityholders.
    It doesn't look good at all. If they re-list I'll be out. I fear they may never re-list. My small position looks dead in the water.
 
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