please explain why, page-42

a) The don't need credit. They've already secured this and have minimal issue until 2010. See release.
b) distributions usually only come about when they realise a profit by selling a property. Hence the up and coming 5.5c distribution is partially condition on the sale of Mt Gravatt. If you look at the history of the stock you will see there have been many years without a distribution.

I also noticed the gearing was 90% now they are talking down from 80's to 75.