No, debt is not a near-term concern. Earnings are accelerating and the debt is easily serviced. In mid-December, URI announced the early redemption of $200 million of the 10.25% debt issue maturing in 2019, at a premium to par value, using their own lower cost credit facility. URI has financial flexibility, which is crucial when you have high debt levels.. URI's debt was a concern 5 years go when the U.S. economy almost entered a depression. The ongoing successful integration of the RSC acquisition bodes well for URI's future earnings. But if URI decides to do a heavily debt financed debt acquisition of Hertz' equipment rental business (Carl Icahn likely wants Hertz to dump that non-core asset), that would be a concern. If the U,S. economy enters a recession, URI's debt will become a major concern, as new construction will decrease materially, reducing demand for equipment rentals, reducing URI"s earnings and URI's ability to service their debt. Also keep in mind that URI could always sell equipment if they desperately needed cash, but if the US economy is n a recession at the time, many others would also be selling equipment to raise cash, impacting sale prices negatively. URI is the market leader and they strengthened their market position with the RSC acquisition and that's what's driving the increasing stock price, as well as the improving economy which will hopefully lead to drive new construction in the commercial real estate market, adding to the residential market. The tight credit market for smaller borrowers has also been a major catalyst as developers now prefer to rent equipment versus buy and hold onto their limited capital.