Counsel's opinion should allay the concerns of many and it is a positive confirmation to restore the deserved confidence in PNC.
Albeit that the last month has been a bit uncomfortable, the up side is that it has flushed out the accounting aspects to PNC reporting, and subject to cash flows substantiating the PDP values, will remove this nagging accounting treatment issue as an overhang for future periods.
The focus can be on performance and not reporting.
I am sure it also will provide confidence to lenders which will allow PNC the opportunity to grow further.
Counsel's opinion should allay the concerns of many and it is a...
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