Reading through most recent HY report, I think this sell off is...

Reading through most recent HY report, I think this sell off is over blown and on a bit of unfounded fear:

1) Interest cover sweet on 2.3
2) No debt to roll over until 2011
3) LVR a bit tight but looks okay
4) Large cash flow operating profit
5) 98+% occupancy and 5.3 year WAL

I think that they could cut/ suspend the distribution payments for next few Q instead of a capital raising to get debt down, but apart from that IMO this Trust will survive and do well

... to that end I am making sure that I support their tennants by drinking my fair share of plonk!

I'm buying more at these prices