NZF Group (NZF and NZF010)

[Tony Two Gloves]

You are correct on the S&P process their info would have been at 30/04/11 - they did hint to further downgrades and they were correct to do so. They make a comment regarding viability and again they are correct to do so. In their current format NZF is not a viable business, they simply can't lend as they do not have available cash and they will not have through the remainder of 2011 as per S&P. I don't think S&P would be concerned at all about losing NZF as a client, as would their Auditors or Trustee. I seriously cannot believe the optimism around NZF that some of the people on here have. This company is hanging on by a slender thread, Shares trading at 0.023 today, the bond value has been decimated and all the promises made by themselves (which they did not have to make) have yet to be deivered and in my opinion won't be. The fat lady is warming her tonsils up and just about to break into song.....

[Xerof]

Whooh, taken both gloves off there Tony, ready for a fist fight?

Can anyone answer my question posted some time ago now - when does the Westpac facility expire? I guess I'll find out when they announce their results at end of the month