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 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):


	September 30, 2012			December 31, 2011
Letters of credit outstanding	$	4,206		$	4,785
Borrowings		—			—
Interest rate on revolver borrowings		—	%		—


	Three Months Ended September 30,				Nine Months Ended September 30,
	2012		2011		2012		2011
Interest expense (including commitment and letter of credit fees)	$	455	$	328	$	1,163	$	974
Amortization of issuance costs	$	181	$	182	$	544	$	544

As of September 30, 2012, all borrowings were classified as liabilities held for sale. In connection with the closing of the Sale on November 2, 2012, SS/L terminated the SS/L Credit Agreement.

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