curious timing to say the least. something must have been said during the analyst day yesterday that set this off. My hunch, given this is now almost a 10% yield, is that this a buy downgrade, not a sell. we shall see in the fullness of time. I'm adding here at 22.4.
You can read the transcript. Management hedged a bit on the ability to maintain the distribution. A lot do debt with downgrade possible. That is the bad news. However, still has some good assets, if distribution cut would probably be temporary until balance sheet put in better order. Went through this with some pipelines during Great Recession. They eventually come back just have to suck it up for awhile. If management able to surprise and get to coverage ratio well, that would be nice evidently analysts don't believe it will happen.