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The latest guideance (Market Update and letter to Shareholders) said that the conpany has adequate funding, is operating comfortably within its banking covenants and that interest cover is something like 10 times. Here's an extract from the Market Update:

“Our financial position remains strong, with our ratio of total net debt to EBITDA expected to be approximately 1.7 times and our ratio of EBITDA to Interest Expense at over 10 times as of year end 2008. Available undrawn revolver capacity, cash balances and strong underlying cash generation capability remain more than adequate to execute on our plans in 2009. We have no refinancing requirements for the next 18 months as the first tranche of our bank
credit facilities does not mature until April 2010 and we are operating well within all of our financial covenants. This enables us to continue to benefit from the low-cost capital structure that we put in place in connection with our IPO in 2007 as our annual after-tax cash interest
expense is approximately $25 million.”

So .. they can cut costs easily and cover interest easily. Looks solvent to me and no refinancing issues uuntil 2010.

H