The gearing is a good indicator of potential problems, but if all covenants are met - gearing doesn't matter until debt rollover time. BJT is safe for a couple of years even if there is no recovery. Look up my posts from the 28,29,30/5 for some rough calcs on this. Let me know if you see any holes in them. At that stage there was no factoring in of a distribution.
BJT
babcock & brown japan property trust
The gearing is a good indicator of potential problems, but if...
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