4. DEBT

Debt consisted of the following (in millions):

	September 30,		December 31,		September 30,
	2017		2016		2016
Revolving credit facility	$	99.6	$	52.2	$	66.2
Other obligations		3.9		3.3		2.7
Total debt		103.5		55.5		68.9
Less current portion		1.2		1.0		0.8
Long-term debt	$	102.3	$	54.5	$	68.1

Credit Agreement — In July 2017, the Company amended and extended its asset-based senior secured revolving credit facility (“credit facility”) with Wells Fargo Capital Finance, Bank of America and JP Morgan Chase. The amendment, among other things, increased the borrowing capacity from $160 million to $250 million, reduced the interest rate, reduced the minimum fixed charge coverage ratio and extended the maturity to July 14, 2022. 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.

At September 30, 2017, the Company had revolving credit borrowings of $99.6 million outstanding at a weighted average interest rate of 2.5% per annum, letters of credit outstanding totaling $3.2 million, primarily used as collateral for health and workers’ compensation insurance and $69.7 million of excess committed borrowing capacity. The Company pays an unused commitment fee of 0.25% per annum. In addition, the Company had $3.9 million of capital lease and other obligations outstanding at September 30, 2017.

The sole financial covenant in the credit facility is the fixed charge coverage ratio of 1.00:1.00, which must be tested by the Company if the excess committed borrowing availability falls below an amount in a range between $17.5 million to $31.3 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. At September 30, 2017, the company’s fixed charge coverage ratio exceeds 1.00:1.00. At September 30, 2017, the Company’s fixed charge coverage ratio exceeds 1.00:1.00.