value, page-19

A 10% downgrade in np is roughly about $10m, however the market cap has dropped over $250m in 2 months. The current np is essentially the same as 2013, so dividend can definitely be maintained and when it does in sept I suspect sp to be rerated.

The other positive is that if nova does get sold at 10 x ebitda this equates to about $1.8 for sxl, and later on the year media laws should be further deregulated making sxl even more attractive. 

Good buying opportunities at these levels IMO.