Warnie, haven't always agreed with you, but in this case I do...

Warnie, haven't always agreed with you, but in this case I do feel you are right except I thnk I'll err on a more conservative share price target .

The Mirvac boss on the ABC 7.30 report tonight raved about Centro's assets and he admitted his company and others looked over eachothers assets always, but the words I remember he used for the CNP actions and outcome was 'self inflicted' .

He said the credit problem has been around for months and so I interpret that to imply that CNP management did not take diverse enough action to shield themselves from potential finance rejection .
I think they felt their business model was good enough to pass the credit test.
It always has in the past and it has been profitable always .
Perhaps it is still, but the choice of lender and their altered lender criteria may be the main problem, and perhaps NOT Centro's proven past and current profitable business .

Let's face it . The occupancies can meet the repayments and more . It's just that the Americans have altered the playing field and some lenders can't play ball anymore . They are stretched or stressed in a foresight sense .


So if the business is great fundamentally and the main issue is with the finance source then I feel management will solve this debarcle .