RE:CXRNo company pays down debt to 0. If you can borrow money at 4% and ROI is 10% then that is good business sense. 2016 EPS is $9 (likely conservative) or total CD459M. With growth (8% organic plus opportunities), the debt is very manageable. Interest cost starts at CD338M and goes down as high cost bridge loans (9.5%) are paid first. Largest and longest loans are 4%ish. As debt ratio drops to less than 5xEBITDA, market concern should drop off. Guidance says that this will happen by end 2016.