Also, the S&P rating is based on hindsight, ie. Q1 results, not Q2 where we all have an idea things are lookiing much better from a production standpoint. An asset sale waves the magic wand and cures this anyway. Increased production going forward is gravy.
The rating seems less important to me than the renegotiations. I'd like to be able to hold some of my shares coming out of the Q, but that assumes that shares won't be cancelled. We'll see how it plays out, but the approved asset sales and the apparent willingness (on CEM's end anyway) to renegotiate debt all seems positive.
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