8a421b78_port___Business_review___Risks__Description
[Risk] We are unable to secure external financing at a commercially viable rate [Action] The Board, assisted by the Group’s treasury department and the Treasury Committee, is responsible for the ongoing review and monitoring of our capital structure to ensure that the Group can meet its financing requirements and is compliant with banking covenants. We have introduced robust measures to ensure the most efficient use of resources. These include higher hurdle rates and enhanced payback periods for capital, a working capital reduction strategy and an increased emphasis on ensuring we optimise and leverage our assets and property portfolio across the Group. We are also committed to maintaining our debt at, or below, current levels and have committed to use the proceeds from the sale of our Italian business to further reduce debt. [Description] 
The ongoing scarcity of investment capital, due to the breakdown in the international wholesale money markets, is likely to impact the willingness and ability of the banking sector to offer debt financing facilities at a commercially viable rate. This may impact and restrict our options with regards to investment decisions and funding market entry opportunities in new or emerging markets.
Kingfisher Annual Report 2008/09 - Report - Business review - Risks
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