RE:Growth by AquisitionI agree with you on it would be difficult for CXR to make more acquisitions given current capital structure. But I do not think the value of the house has declined. If CXR is able to achieve cash flows as promised, the value of the house remains the same or it will actually increase. Nobody knows about this AMCo as it was owned privately. If CXR puts out some numbers in public in the next few quarters, M&A bankers will be able do their due diligence and pitche sales to potential buyers.
What is happening now is that house has not changed but the banks are suffering losses in some other neibroughoods and they are very worried about all of their investments, including your house. This sell-off this time is more aggresive than 08 from my memory. People are just not sure where are real losses. There is plenty of cash sitting on the sidelines in both the debt and equity market IMO. Once dust settles, things will go back up very quickly. Ignor all the noises.
Let CXR does what it suppose to do. Longs should stop worrying. Debt looks huge but it is fairly common in leverage buyouts. There are ample of options for CXR down the road. Sell the business or sell parts of the business. Issue some stock when share prices go up. Use OCFs pay down the debt in the upcoming years. Only bad businesses suffoate in debt. Good buisnesses with debt has made private equity guys filthy rich. Recent decline is all market driven and has zero to do with business. And the business is really what you should focus on.