5. Long-Term Debt and Interest Expense

Long-term debt consisted of the following (in thousands):



	September 30, 2015		December 31, 2014
Credit Facilities:
Revolver	$	—	$	16,000
7.75% Senior Notes due 2019		475,000		475,000
7.75% Senior Notes due 2022		300,000		300,000
Unamortized premium		1,024		1,217
Capital leases and other notes		113,238		138,930
		889,262		931,147
Less current portion		46,951		48,575
	$	842,311	$	882,572

On April 21, 2015, Basic entered into an amendment to its existing $300 million Amended and Restated Credit Agreement (as so amended, the “Credit Agreement”) with a syndicate of lenders and Bank of America, N.A., as administrative agent for the lenders, that, among other things: (A) reduces the maximum aggregate commitments thereunder from $300 million to $250 million; (B) permits credit extensions under the Credit Agreement based on availability under a borrowing base comprised of eligible billed accounts receivable, eligible unbilled accounts receivable and eligible equipment of Basic; and (C) provides for the replacement of the existing financial covenants with new financial covenants, which apply only if availability under the Credit Agreement is less than the greater of (i) 25% of the aggregate commitments outstanding, or (ii) $62.5 million. If availibilty is less than these amounts, Basic will be required to maintain (a) a consolidated senior secured leverage ratio not to exceed 2.50 to 1.00 and (b) a consolidated fixed charge coverage ratio not less than 1.00 to 1.00.

As of September 30, 2015, Basic had no borrowings and $50.3 million of letters of credit outstanding under its Credit Agreement, giving Basic $111.0 million of available borrowing capacity based on its borrowing base determined as of such date.

Basic’s interest expense consisted of the following (in thousands):



	Nine Months Ended September 30,
	2015		2014
Cash payments for interest	$	49,628	$	49,689
Commitment and other fees paid		1,818		1,719
Amortization of debt issuance costs and discount or premium on notes		2,637		2,232
Change in accrued interest		(3,076)		(3,413)
Other		(62)		26
	$	50,945	$	50,253