Forum Archive Index - September 1999

["Chris Zingel" <chris_zingel@bigfoot.com>]

I wouldn't be to sure about less risk with those Tranzrail bonds. In 1998
shortland properties debt to total assets was 23%. To be honest I don't know
what the debt to total assets is fro Tranzrail. I know that Tranz rail has
alot of off sheet balancing which would be hard to get a true estimate
(similar to Air New Zealand). My concern with Tranzrail is that they don't
provided an adequate return for there capital (treasury working paper). In
the words of the herald, the cupboard has been stripped bear. I also read
somewhere that Standard and Poor has also put them on credit watch.



----- Original Message -----
From: Mark Hubbard <mhubbard@es.co.nz>
To: <sharechat@sharechat.co.nz>
Sent: Thursday, September 23, 1999 11:44 PM
Subject: Re: [sharechat] Shortland Properties


> Oh. Thanks Brent.
>
> Yes, I read the release wrong. I got the same interest rate, at less risk,
> through Tranzrail bonds.
>
>
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