No I am not Amanda...but I have met her before and I know she is a hard working motivated CEO who can turn any situation around.
The banks did have an option and that was not to budge on the debt repayment schedule and discuss it after the June Results - or at least wait till the sales figures came in.
Instead they have backed Amanda all the way with no debt due til Sep 2009 which is still 18 months away.
In this current credit cycle banks would not be prepared to extend debt unless they saw some lights at the end of the tunnel.
Plus I continue to harp that the results for the half were a train wreck on purpose with bumper results due out at the full year...some of the writedowns could be writebacks such as the franchise fees.
CDR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
