Sorry Guys....that should have read $3 billion debt.In...

Sorry Guys....that should have read $3 billion debt.

In 2008....279 million in debt was paid off.

The most important thing to realise about IIF....they have $3 billion in debt.....and 5.6 billion in assets. These assets have been sold down to meet debt thus not breaching any covenants.

The gearing ratio of IIF is 53%. Compare that with CNP's 90%.

IIF if they sold up completely right now would be as a minimum $2 billion up....and in this market...cash is king.

However IIF is structuring their sales to maximise book value and as we saw yesterday.....an 18% discount to book value was accepted on one sale...where as a 5% discount was achieved on another.

All will do their own research but I am tipping IIF for a massive correction upwise in the short term.