Hero has been paying down debt for five years. It owes less today than it did last year. It owed less last year than it did the previous year, etc. Mind you that they did this while times were tough. Well times are a changing. When the going got tough the tough(hero) got going. Now the future looks bright and any refinancing will save money with lower rates because of the higher investment grade they EARNED. A record backlog is on the books at the highest rates in years. Demand is huge and Hero can un-stack some cold stacked rigs to really accelerate earnings. Don't think that Hero could not generate $2 a share in earnings in say 2 years with all systems firing. By late 2015 Hero could just deliver those $2/sh that some would have you believe can't happen. I say nay nay. AND should that happen that would be something like an 80% growth rate for two years which would give us a PE of 80 or $160 a share. Now I don't think that we would get a PE of 80 even though the book says that the PE should reflect the growth rate. Even a PE of say 30 would give us a $60 a share price. That would be $$$$weet !!!!!!!!!!!!!!!!!!!!!!!!!!!!