rays of hope

Whilst less than thrilled with the normalised performance of the business, there is some good news that should not be forgotten:
- $405-415m EBITDA this year I hope means greater cash to pay off debt
- other operators will view that they can produce better returns from the assets than BBP management, and will bid accordingly
- cost of capital for an acquirer is likely to be significantly lower than BBP's current or future cost of capital, thus earnings don't need to be as high to pay off for the acquirer
- novation of the contracts to Origin

Anyway, time will tell, but not written off as yet IMO.