Debt problems have different levels or interpretations. My personal view is that if you don't have the cashflow to pay down your debt level if you so wished then this is a debt problem - at least if not now then later, especially when the current interest rate environment is on the low side.
Of course the problem isn't so significant for VOC as they can cancel dividends to pay down debt, which I would support. Debt holders have legal priority of equity holders, so pay them out early and avoid unecessary and costly complications in the future.
VOC Price at posting:
$3.52 Sentiment: None Disclosure: Held
