RE: debt IMHO, debt becomes an issue for banks when cash flow looks iffy going forward. The general economic environment, the company’s ability to get product to market, the size of the debt etc. all factor into a company’s viability going forward and a bank’s decision on whether or not to continue it’s financial support of a company.
In a nut shell, management needs to execute and reduce the company’s risk profile. If they do, SP will move up sharply.