Personally, I don't think it is excessive though clearly acts as a bit of a drag. The new reporting rules makes the debt to equity ratio appear worse than it really is. If you remove the assets (right of access) and the liabilities (lease use) to look through the net debt levels, you will see it's not deteriorating in anyway and is clearly manageable. Apologies if I am repeating myself.
News: ING Inghams Group Updates On Stage 4 Lockdown Measures In Victoria, page-34
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