RE: RE: RE: Notes I see the new borrowings to be more ominous than some others on this board. Q2 debt to 2012 expected FFO was over 2:1. It appears to me the company has needed to increase their brrowings in Q3, but the banks have refused to loan LEG more money (at about 5% interest) and forced them to take on $200MM of high cost (7 1/2%) unsecured debt. The company will have to pay off this high cost debt by reducing capital expenditures with a consequent reduction in growth. We'll be able to see the real debt picture next week when they release their Q3 financials, but until then I've liquidated my LEG holdings in favour of stocks with stronger balance sheets.
What do others think of my view on this?