OK, I get two different stories..One here on HC, but The...

OK, I get two different stories..One here on HC, but The Australian says

"Standard & Poor's cut its rating for Babcock & Brown International, a wholly owned unit of the asset manager, to CCC+ on Wednesday.

"Given the global financial market conditions, and Babcock International's recent experience, we believe that the company is likely to face significant challenges in selling its assets and businesses, and consequently reducing its debt at the corporate level," the ratings company said in a statement.

Babcock & Brown Infrastructure Group, a fund managed by Babcock & Brown, said it was examining the potential sale of as much as 49 percent of Australia's second-biggest coal-export harbor after drawing interest from potential bidders."

If they are a fund managed by BNB, surely when the administrators come knocking (as looks inevitable without government intervention with tax payers money)..BBI will be treated as an asset of BNB????

I stand to be clarified, I can't be corrected cos I don't know what I know, I just know what I don't know...

yours confusamably

Sandlion