Wow, Standard & Poors (MHFI), you are seriously late to the party. Good job issuing a credit downgrade after Navios Maritime LP (NMM) has already fallen more than 90% over the last 12 months. No worries, this is kind of the standard behavior out of credit rating agencies, and Navios management anticipated it. That's a big part of why they cut their dividends; so that they would have cash on hand to take advantage of any opportunities that came up. See, here's the thing: Navios does not have to borrow money to keep operating. They are profitable, even at what the stock market considers to be the absolute darkest moment in their operating history. The earnings bottom is in, even if the price of the stock hasn't turned around. New ships are no longer being built. It is only a matter of time before the supply of vessels is on a 1:1 level with shipments that need to be made. At that point, the BDI will shoot up rapidly. Navios Maritime closed down 22 cents to close at just 80 cents. I am buying as many of these shares as I can get my hands on right now.