My expectation is that, as TFC's earnings and cash flow quality...

My expectation is that, as TFC's earnings and cash flow quality grows and become more predictable, the interest rates it pays for restructured debt will be reduced and the discount rate used for valuations will be reduced. This will in turn lead to higher present values for future cash flows and therefore higher overall valuations in the short term (post July 2016 when the cash flows from bigger harvests and oil / timber sales become apparent to the market). It is already happening to some extent with lower interest rates on new funds.