Debt

6 Months Ended

Jun. 30, 2012

Debt [Abstract]

Debt

12. Debt

SS/L Credit Agreement

On December 20, 2010, SS/L entered into an amended and restated credit agreement (the “SS/L Credit Agreement”) with several banks and other financial institutions. The SS/L Credit Agreement provides for a $150 million senior secured revolving credit facility (the “SS/L Revolving Facility”). On December 8, 2011, the SS/L Credit Agreement was amended to increase the letter of credit sublimit from $50 million to $100 million. The SS/L Revolving Facility includes a $10 million swingline commitment. The SS/L Credit Agreement matures on January 24, 2014 (the “Maturity Date”). 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 SS/L Credit Agreement and prior credit agreement (in thousands):

	June 30, 2012			December 31, 2011
Letters of credit outstanding	$	4,388		$	4,785
Borrowings		40,000			—
Interest rate on revolver borrowings		3.99075	%		—

	Three Months Ended June 30,				Six Months Ended June 30,
	2012		2011		2012		2011
Interest expense (including commitment and letter of credit fees)	$	386	$	325	$	708	$	646
Amortization of issuance costs	$	182	$	181	$	363	$	362

As of June 30, 2012, all borrowings were classified as liabilities held for sale.

Interest expense and amortization of issuance costs were included in income from discontinued operations for the three and six months ended June 30, 2012 and 2011.