Originally Posted by
gengar
It's not like lenders won't waive or amend the covenants anyway given the circumstances. Typical type of seekingalpha fluff from a stock shorter.
Yep, a covenant breach is often nothing more than a block on paying dividends until the breach is remedied. As long as you are still paying interest and principal you're fine.
Besides... who here wouldn't rather the lenders wipe out shareholders and put in their own management team...