The Partnership's current revolving credit facility matures in July 2013. Accordingly, the Partnership has been engaged in active negotiations with its lender group to amend and extend the current facility (both the revolver and term loan). Because the negotiations are not yet concluded, the Partnership reclassified the outstanding borrowings under its revolving credit facility as a current liability in its December 31, 2012 consolidated financial statements. The audit opinion, related to these financial statements being filed with the SEC in the Partnership's Annual Report on Form 10-K on or before April 2, 2013, will include a going concern emphasis paragraph related to this matter.
agreed - looking at the cash flow details, they should be OK re: making interest payments and reducing their indebtedness in the next 12-24 months, even with poor pricing and demand for their coal. This holding is now for the patient among us, although some quick money could be made after the announcement of the extension of the credit facilities.