what is your confidence level they will be able to reduce debt? for the last three years, they have been spending more on servicing debt than their operating income, this is when they have interest swaps and these swaps will expire in the next two years. 

their OCF has been reducing for the last three years (126->67->47) too and so is FCF (104->52->36) so I feel a lot of great things need to happen for these assumptions to come to fruition.