starting to run, page-8

Intuittion - I'm certainly no financial wiz but I'd point out the following:

1) AGL is rated BBB last time I looked. Not sure about Origin or the other main candidate. Therefore the gains via a cheap refinance may not be as rosy as some people imply.

http://www.agl.com.au/about/ASXReleases/Pages/AGLcreditratingrevisedtostableoutlook.aspx

2) From what I understand, interest rates going down have not translated to easier finance for business. Home owners have enjoyed some of the rate cuts but many businesses with investment grade ratings are being rolled by the banks (finance denied or terms worsened).