Smartinvestor,The reassuring thing is that the recent sales has...

Smartinvestor,

The reassuring thing is that the recent sales has made their balance sheet stronger, and they have more than 12 months to resolve their 2010 debt- while I'd like to see this resolved in the next 3 months, they're not under the gun at all, and have plenty of time to secure extensions. I also do think renegotiating covenants is a good idea given the risks over the next 12 months- and I'd rather them do that than ignore them and run the risk of a later breach.