From Bloomberg today: ..Separately, Babcock & Brown yesterday...

From Bloomberg today:

..Separately, Babcock & Brown yesterday denied a report in the Australian Financial Review that it was forced to tap credit lines to avoid breaching covenants on bank loans.

``There have been no new facilities established and drawn down since June 30,'' Babcock said yesterday in response to e- mailed questions from Bloomberg News. The company ``has a A$2.8 billion three-year revolving facility which currently runs to April 2011. This facility is drawn down at various times and repaid depending on the requirements of the business, including dealing with counterparty risk issues.''

If this is the case the last two days may have been overdone?

I know there are a lot of burnt fingers in here, but hey I'm a punter/holder and would still like to see bedandbreakfast get through this =)