The company disclosed one technical covenant breach that appears so small that it raised myriad questions among investors as to why the special dividend was canceled rather than just postponed.

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It's a pretty binary outcome that traders are facing on this one and there will be a lot of legal ink spilled over it.

215

The deal may be more or less credit neutral for most of the players and a slight credit positive for the industry.

164

It's a very technical and legal situation.

116