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correction: debt not dent. Co statement re: sale of better than 15% of holdings will be of interest.
they want to shrink assets/debt to bring the debt/equity ratio down.bonds are already trading based on a much higher rating, that last downgrade of the bonds will be reversed and then some if/when the $1 billion deal goes through.
bonds look even better after the dividend cut/stock offering announced tonightmore money to keep paying down debt, i wonder what kind of prices they will try to tender $1-2 billion worth of debt at...