please rember that BBi has no debt to bnb.Yes the corporate debt for bbi of 1.1 bil is an issue but the rest of bbis debt apart from beppa is non recourse at asset level based on each of the businesses.Management has indicated that each of the businesses has been tracking in line with expecttations and hence cash flow remains ok.They have near term issues for west net rail however I beleive the irrational nature of the market has completely oversold the position.My view is that bnb will fail and I beleive that this will be a positive for bbi.BNB has announced that their intention is to sell all assets other than infrastructure which confirms in my mind is thats where the best assets are..Asset values have clearly fallen in value but not the the levels that the stock price reflects.
BBI Price at posting:
3.6¢ Sentiment: Buy Disclosure: Held
