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12-08-2010, 10:25 AM
#361
Is a CC credit rating on negative watch good?
When I went to school a C was still a pass .... maybe not in this case
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12-08-2010, 10:27 AM
#362
Originally Posted by winner69
Is a CC credit rating on negative watch good?
When I went to school a C was still a pass .... maybe not in this case
C's got degrees too!
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12-08-2010, 10:37 AM
#363
Originally Posted by winner69
I
When I went to school a C was still a pass .... maybe not in this case
When I went to school math was never a strong point but doesn't $24.5m in Property Assets plus $57.8m in loan assets equal $82.3m? So where does the $94.3m come from?
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12-08-2010, 10:40 AM
#364
Originally Posted by Lizard
Hanover assets now valued at $94.3m. Takes the shortfall to $301.7m and, by my calc, the no. of ordinary shares to be issued to ALF Bonus Share holders at 31 Jun 2011 now at 120m (presuming of course that there is still an ALF to issue them). That's a conversion rate of about 32 ords to 1 bonus.
So we go from $400m to $175m to $124m and then six weeks later to $94m ,,, what a joke
And they want to use some of this $94m to prop up ANF ... if I was the trustee i would be wanting twice what is needed to sort of cover myself, just maybe
I understand they are still capitalising interest on many of these loans ..... could just report an operating profit .... nice one
Hangover investors have been shafted more by ALF than what Hotchin et al did to them ... at least they knew what they were letting themselves in for with Hotch et al
What a joke .... as Chalkie says put everybody out of their misery
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12-08-2010, 10:41 AM
#365
Originally Posted by minimoke
When I went to school math was never a strong point but doesn't $24.5m in Property Assets plus $57.8m in loan assets equal $82.3m? So where does the $94.3m come from?
Those figures are the impairment provisions/fair value adjustments from 31 Dec, not the current valuations. Nearly halved in value in 6 months (was $175.5m).
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12-08-2010, 10:45 AM
#366
Originally Posted by minimoke
When I went to school math was never a strong point but doesn't $24.5m in Property Assets plus $57.8m in loan assets equal $82.3m? So where does the $94.3m come from?
Common guys, Giddee-up...do your homework and google Standard and Poors and learn about their ratings. I'm not going to post a link as IMO people need to learn to do their own reasearch.
CC on negative credit watch is an appalling rating and its nothing to do with the grades you got at school.
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12-08-2010, 10:59 AM
#367
Originally Posted by Lizard
Those figures are the impairment provisions/fair value adjustments from 31 Dec, not the current valuations. Nearly halved in value in 6 months (was $175.5m).
Of course - thanks. No point even trying to do basic math when head is full of cold but my math is as good as Bernard hickey whos site says
The acquired Hanover property assets were valued at NZ$24.5 million at June 30, Allied Farmers said, and loan assets at NZ$57.8 million.
. - time to find that medication.Then I might be able to find the other $1.1m
Last edited by minimoke; 12-08-2010 at 11:03 AM.
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12-08-2010, 11:03 AM
#368
Member
The market is so wrapped up in falling stocks it has forgotten about ALF, If we were paying attention it would be below 3 cents already. Running out of positive things to say about this one, might jump on board for one last trade at some stage, but it would seem that the end is nigh.
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12-08-2010, 11:04 AM
#369
Member
The guys that did due diligence on this must be a tad red faced at the moment.
The colour of their faces must match Mark Hotchins sun tan in Hawaii?
Did they get independent advice like the directors of Feltex?
Disaster zone.
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12-08-2010, 11:16 AM
#370
Originally Posted by Roger
Common guys, Giddee-up...do your homework and google Standard and Poors and learn about their ratings. I'm not going to post a link as IMO people need to learn to do their own reasearch.
CC on negative credit watch is an appalling rating and its nothing to do with the grades you got at school.
Roger ..... you should know us better than that
We are nice guys here and just didn't want to use the word junk .... or crap or whatever
You can get a D from S&P so CC not that bad
Always hard to remember that 3 c's are better than 2 c's which is better than 1 C .... so a few more steps down yet for ANF
Bit like nudge nudge wink wink all this stuff .... and retrospective as well
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