11. Debt

SS/L Credit Agreement

On December 20, 2010, SS/L entered into an amended and restated credit agreement (the “Credit Agreement”) with several banks and other financial institutions. The Credit Agreement provides for a $150 million senior secured revolving credit facility (the “Revolving Facility”). The Revolving Facility includes a $50 million letter of credit sublimit and a $10 million swingline commitment. The Credit Agreement matures on January 24, 2014. The prior $100 million credit agreement was entered into on October 16, 2008 and had a maturity date of October 16, 2011.

The following summarizes information related to the Credit Agreement and prior credit agreement (in thousands, except percentages):


	June 31,		December 31,
	2011		2010
Letters of credit outstanding	$	4,911	$	4,911
Borrowings		—		—


	Three Months				Six Months
	Ended June 30,				Ended June 30,
	2011		2010		2011		2010
Interest expense (including commitment and letter of credit fees)	$	325	$	200	$	646	$	398
Amortization of issuance costs	$	181	$	219	$	362	$	438