4. DEBT

Debt consisted of the following (in millions):

	June 30,		December 31,		June 30,
	2017		2016		2016
Revolving credit facility	$	100.7	$	52.2	$	73.8
Other obligations		3.7		3.3		2.2
Total debt		104.4		55.5		76.0
Less current portion		1.1		1.0		0.8
Long-term debt	$	103.3	$	54.5	$	75.2

Credit Agreement — The Company has a $160.0 million asset-based senior secured revolving credit facility (the “credit facility”). Borrowing availability under the credit facility is based on eligible accounts receivable, inventory and real estate. The real estate component of the borrowing base amortizes monthly over 12.5 years on a straight-line basis. Borrowings under the credit facility are collateralized by substantially all of the Company’s assets, and the Company is subject to certain operating limitations applicable to a loan of this type, which, among other things, place limitations on indebtedness, liens, investments, mergers and acquisitions, dispositions of assets, cash dividends and transactions with affiliates. The entire unpaid balance under the credit facility is due and payable on May 28, 2019.

At June 30, 2017, under the credit facility, the Company had revolving credit borrowings of $100.7 million outstanding at a weighted average interest rate of 2.8% per annum, letters of credit outstanding totaling $3.2 million, primarily for health and workers’ compensation insurance and $56.1 million of excess committed borrowing capacity. The Company pays an unused commitment fee of 0.25% per annum. In addition, the Company had $3.7 million of capital lease and other obligations outstanding at June 30, 2017.

The sole financial covenant in the credit facility is the fixed charge coverage ratio of 1.05:1.00, which must be tested by the Company if the excess committed borrowing availability falls below an amount in a range between $12.5 million to $20.0 million, which amounts depend on the Company’s borrowing base, and must also be tested on a pro forma basis prior to consummation of certain significant transactions outside the ordinary course of the Company’s business, as defined in the credit agreement.

On July 14, 2017 the Company entered into an agreement to amend and extend its $160 million credit facility. The amendment, among other things, increases borrowing capacity from $160 million to $250 million, reduces interest rate charges and extends the facility for five years from the execution date, to July 14, 2022. The sole financial covenant in the facility (the minimum fixed charge coverage ratio) was revised from 1.05:1.00 to 1.00:1.00. As of July 14, 2017, as a result of the amended agreement, the excess committed borrowing capacity increased by over $12.0 million.