if the debt was not renegotiated they would of been out of business already, they have to pull that same stunt over and over again to stay solvent, all the money goes to pay only interest, take this example, your looking at a person that went out and bought 10 interest only homes at the top of the real estate market now the homes are worth 60% less, his equity is negative, rental rates went down. It's total implosion! No way DRYS can dig out of this hole easily, there will not be any sharp rebound like what your hoping for, It will take them a decade to come out of it, unless of course BDI rates increase dramatically, but BDI shows only slow steady improvement. Lets fact the facts they need to dilute again, this RUMOR is a sign that another round of dilution is coming when this fabricated deal falls through! and right now the shorts are loading up! look out!
