I'm still waiting for Kray to get back to me on the abs debt....

I'm still waiting for Kray to get back to me on the abs debt. Anyway, I'm quoting from the MS 28 page announcement released 22 April. Kray can correct me if I'm wrong.

I estimate abs can easily pull themselves out of the hole they are in. Heres how...

The MS Deal = 485m. (pg4)
UK Voucher Business = 100m. (pg17)
Property Sales = 250m. (pg17)
Other 40% of US ~ 300m (estimated)

TOTAL = 1.135b which would eliminate nearly all the debt (excluding the convertible notes.)

But I must admit its difficult to predict just what the abs sp will do next. Macquarie have an under perform rating on it and a target of 1.39. ABN Amro says buy. Citi says hold. So maybe its bottomed?

There was support there today at 1.44 and the shorters appeared to be gone. So it might go up to 150-160 next week. But I dont think the sp is going to get to 250 soon. So maybe now is a good time to rearrange the portfolio.