rays of hope, page-15

BBP is still able to pay interest this year on their loans on 2.8 billion or so.....the big question is icr....maybe they received low ball offers for the business, 20c or so, and didn't want to take them as it is nowhere near their nta real value...

I suspect that they will ask the banks to accept the accounting increase in ebitda instead of the underlying business decreased ebitda...if they buy a little bit more time (say half a year) they might be able to realise more nta for shareholders.

The question is, why would the banks screw a business like bbp that is making money....400million ebitda for this FY09 is great from an accoutning point of view...do the banks want to sell the things themselves in a firesale and screw themselves???? I think not

This aint no reit...we are talking about money makin power stations here....i still suspect that in the unlikely event that the banks say no to any extension, full takeover plans will be put forward to them

we will see this week then....