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GOING CONCERN ????
Babcock & Brown Infrastructure has a net asset position of $2.36 billion and a net current asset position of $573.8 million as
at 31 December 2008. However, included within the current assets and current liabilities are the total assets and liabilities
of Powerco New Zealand and Euroports due to the partial sale of these assets and classification as discontinued operations
(refer note 2).
Had the non-current assets of Powerco New Zealand and Euroports not been reclassified to current, the Group would have
net current liabilities of $1.16 billion. This adjusted net current liability position is impacted by the inclusion of debt totaling
$1.2 billion and other commitments of $141.4 million which are due to be either refinanced or settled within the next 12
months of the balance sheet date.
However, the half-year financial statements have been prepared on a going concern basis which contemplates the
continuity of normal business activities and the realization of assets and the settlement of liabilities in the ordinary course
of business which includes the potential sale of assets. This assumption is based on cash flow projections which include the
use of proceeds from expected asset sales and re-financing of certain loan facilities.

MAYBE THIS IS THE SPOOKY BIT?