Yes, agree. The company is systematically taking care of business that typically cripples MLPs. We're talking about tightening the reins on credit facilities already in play. Disposing of this particular arrangement effectively prevents the involved stakeholders from calling in their loaned money with or without prior notice. NGL is thus utilizing a bunch of cash from the propane sale to not only redeem some financial exposure, it's also capitalizing on opportunity to do so before incurring meaningful interest fees that would be levied. This is a brilliant move!
The retained financial balances and dramatically improved reserves illustrate the company's earlier resolve being that of finding itself capable of self funding. This news should figure meaningfully into write-ups coming from analyst reviews. I'm expecting positive responses.
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