my take on this announcement is that the $88 million reduction in debt is from surplus cash flow. AIO is a giant infrastructure business with a lot of non cash depreciation costs, hence the low profits. But, with an IPO above $10 (was it $12?)it was obviously expected to make a lot of cash for a long time.
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- Ann: Extension of May 2009 Debt Facilities
Ann: Extension of May 2009 Debt Facilities , page-14
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