I think everyone is forgetting the big picture.If CNP cannot...

I think everyone is forgetting the big picture.
If CNP cannot refinance debt they are forced to sell assets.
Have a look at www.markit.com and have a look at the price they will have to borrow (look at CMBX BBB index). These type of companies are now forced to borrow 9% above LIBOR. It used to be just 0.50-1.00%.

The fact is that the cost of debt will not fall anytime soon with the sub prime issue still in the air. CNP WILL BE FORCED TO SELL ASSETS IN FEBRUARY. A company 'forced' and desperate to sell assets will receive 60%-80% of fair value. This blurs the distinction between bankruptcy people.

Good buy CNP or good buy an independent CNP!!!!

AUSTRALIAN VICTIM #2