yes finch2, they are decreasing their debt by selling some of their most profitable assets. What have they got now? $1bill in debts? At lets say 8% interest? That indicates their first $80mill each year goes into interest repayments and they have lost 60% of their Yankee business and soon to sell their English business as well. I think a few in the ABS threads need to have a reality check. ABS will probably survive but they are a very long way away from thriving again. I personally believe they need to do a massive capital raising, possibly in the order of $250mill to get back on track - just not sure if they would be capable of raising that amount of cash at reasonable terms.
ABS Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
