ASX Release 10 November 2008 B&B INTERNATIONAL RATING LOWERED TO BB- AMID DIFFICULT ASSET SALE ENVIRONMENT; ON CREDITWATCH NEGATIVE Please see attached a Press Release by Standard & Poor’s Ratings Services. The lowering of the S&P rating in relation to Babcock & Brown International Pty Ltd (“BBIPL”) announced in the attached release will have the effect of increasing the interest rate payable under BBIPL’s corporate facilities by 50 BPS. If Babcock & Brown’s corporate facilities were fully drawn down for a full twelve month period, this increase would result in a maximum additional interest expense of approximately A$15 million. Recent declines in base interest rates in Babcock & Brown’s key markets will mitigate the increase in the cost of the facility. ENDS
BNB Price at posting:
76.0¢ Sentiment: Buy Disclosure: Held
