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No. of Recommendations: 0
I guess the 7.125% yield for a 10-year note says the market still thinks CPNO is junk. I still believe CPNO's corporate risk does not justify the 7.125% yield relative to other new 10-year notes I see. And, yes, I fully understand my opinion means nothing in the huge debt marketplace.

Don't underestimate your ability to do a creditable analysis. Don't second-guess yourself. If they can refi at 7-1/8, they are in far better shape than a lot of companies who having to borrow at as much as 500 bps higher.
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