To me it sounds like they have actually improved things by getting rid of their onerous contracts. Interest cover is better going forward the way I read it.......?
Shame about poorer demand but they still have their head above water, I think, for a work through
Asset sales appear tougher beacause a) GFC ongoing b) I heard that at least AGL has put on hold further asset purchases in anticipation of NSW electricity sell off c) Presumably AGL and Origin will want to tender on developing the Solar generation assets announced in the budget.
BBP Price at posting:
10.0¢ Sentiment: None Disclosure: Held
