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@stevek_fairfax; the junk status is paramount.

Let's assume the numbers are correct and the ratios stay the same. Say about 100 million in state money, about 900 from transurban.

Transurban raised about 2.86 billion to buy proprieties in Virginia. Some large percentage of that has been spent. Their LOC is also not strong. I mean, it is with a Portuguese bank.

Where is transurban going to raise this money?

These deals depended on the ability of private companies to issue 99 year debt -- which lowered their cost of capital.

ANy buyers now?

by charlie on Feb 15, 2011 2:23 pm • linkreport

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