B&B execs surprised by share price crash
The finances of investment group Babcock & Brown remain sound and it can comfortably service its' debt according to its executives. B&B is expected to outline to its' bankers today a plan to replace the chairs of two of its power and infrastructure funds to boost investor confidence. B&B lost more than 50 per cent of share value last week as concerns that deals would begin to dry up in the wake of the credit crunch led to short selling by hedge funds.
Source: The Australian Financial Review