$11m was the only current debt they had, the other current liabilities are working capital. I expect they will come to market with a new bank deal, and use that to take out the 2013's. It makes economic sense to have some bank financing in their capital structure. Investment Grade rating is close, but I'm not sure if they care being IG or not. I don't know if they do a dividend or not, but using free cash flow to make open market purchases of the 2013 bonds doesn't make sense because of the lack of liquidity in those bonds. It's something you do all at once with a tender or call. Debt did not kill this sector as much as people think. The problem was tough covenants and unfriendly banks who wanted their money back. BLC, and many others in this space still generated positive free cash flow even at the bottom. I don't know when the dividend is coming, but it has to come soon. I'd be shocked if it doesn't happen before year end.