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AGK... under extreme duress

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... the news

Australian energy retailer, AGL Energy, may be forced to write down assets. Merrill Lynch analysts said that AGL may have to make a total write-down of $A1.3 billion for its Southern Hydro, Powerdirect and Loy Yang A assets. Its stake in Loy Yang could be at risk if lenders will not refinance a $A515 million debt facility due in November 2010.

But... now that it is all out in the open, opportunity could be knocking... soon.
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