I personally don't see any dramas, the news hasn't gotten any...

I personally don't see any dramas, the news hasn't gotten any worse for now.

The fact that the banking facilities have been extended till March 2013 is good news and helps explain why CBA still give a 45% margin on this company.

Considering CBA has pulled margin loans on quite a lot of companies in the last month,even VBA is considered a higher risk play compared to PSH according to the CBA risk management team.

So to me the bad news hasn't gotten any worse but if anything slightly better.The sp has already factored in the profit down grade,so imho down side is minimal.

All and all the market speaks its own language and sp may move in any direction in short term,just going to have to wait and see.