(8) Long-Term Debt:

The activity in our long-term debt from December 31, 2011 to March 31, 2012 is summarized as follows:

				Three months ended
				March 31, 2012								Interest
												Rate* at
	December 31,						New		March 31,			March 31,
($ in thousands)	2011			Payments			Borrowings		2012			2012

Rural Utilities Service
Loan Contracts	$	10,197		$	(127	)	$	-	$	10,070			6.15	%

Senior Unsecured Debt		8,325,774			(14,375	)		-		8,311,399			7.92	%

Industrial Development
Revenue Bonds		13,550			-			-		13,550			6.33	%

TOTAL LONG-TERM DEBT	$	8,349,521		$	(14,502	)	$	-	$	8,335,019			7.92	%

Less: Debt Discount		(49,664	)							(45,881	)
Less: Current Portion		(94,016	)							(674,746	)

	$	8,205,841							$	7,614,392

* Interest rate includes amortization of debt issuance costs and debt premiums or discounts. The interest rates at March 31, 2012 represent a weighted average of multiple issuances.

Additional information regarding our Senior Unsecured Debt is as follows:

	March 31, 2012			December 31, 2011
		Principal	Interest		Principal	Interest
($ in thousands)		Outstanding	Rate		Outstanding	Rate

Senior Notes:
Due 1/15/2013	$	580,724	6.250%	$	580,724	6.250%
Due 5/1/2014		600,000	8.250%		600,000	8.250%
Due 3/15/2015		300,000	6.625%		300,000	6.625%
Due 4/15/2015		500,000	7.875%		500,000	7.875%
Due 10/14/2016*		560,625	3.125% (Variable)		575,000	3.175% (Variable)
Due 4/15/2017		1,100,000	8.250%		1,100,000	8.250%
Due 10/1/2018		600,000	8.125%		600,000	8.125%
Due 3/15/2019		434,000	7.125%		434,000	7.125%
Due 4/15/2020		1,100,000	8.500%		1,100,000	8.500%
Due 4/15/2022		500,000	8.750%		500,000	8.750%
Due 1/15/2027		345,858	7.875%		345,858	7.875%
Due 2/15/2028		200,000	6.730%		200,000	6.730%
Due 10/15/2029		50,000	8.400%		50,000	8.400%
Due 8/15/2031		945,325	9.000%		945,325	9.000%
		7,816,532			7,830,907


Debentures:
Due 11/1/2025		138,000	7.000%		138,000	7.000%
Due 8/15/2026		1,739	6.800%		1,739	6.800%
Due 10/1/2034		628	7.680%		628	7.680%
Due 7/1/2035		125,000	7.450%		125,000	7.450%
Due 10/1/2046		193,500	7.050%		193,500	7.050%
		458,867			458,867
Subsidiary Senior
Notes due 12/1/2012		36,000	8.050%		36,000	8.050%
Total	$	8,311,399	7.92%	$	8,325,774	7.93%

* Represents borowings under the Credit Agreement with CoBank, as discussed below.

The Company has a credit agreement (the "Credit Agreement") with CoBank, ACB, as administrative agent, lead arranger and a lender, and the other lenders party thereto for a $575.0 million senior unsecured term loan facility with a final maturity of October 14, 2016. The entire facility was drawn upon execution of the Credit Agreement in October 2011. Repayment of the outstanding principal balance is made in quarterly installments in the amount of $14,375,000, which commenced on March 31, 2012, with the remaining outstanding principal balance to be repaid on the final maturity date. Borrowings under the Credit Agreement bear interest based on the margins over the Base Rate (as defined in the Credit Agreement) or LIBOR, at the election of the Company. Interest rate margins under the facility (ranging from 0.875% to 2.875% for Base Rate borrowings and 1.875% to 3.875% for LIBOR borrowings) are subject to adjustments based on the Total Leverage Ratio of the Company, as such term is defined in the Credit Agreement. The initial pricing on this facility is LIBOR plus 2.875% through September 30, 2012. The maximum permitted leverage ratio is 4.5 times.

We have a $750.0 million revolving credit facility. As of March 31, 2012, we had not made any borrowings utilizing this facility. The terms of the credit facility are set forth in the Revolving Credit Agreement, dated as of March 23, 2010, among the Company, the Lenders party thereto, and JPMorgan Chase Bank, N.A., as Administrative Agent (the Revolving Credit Agreement). Associated facility fees under the credit facility will vary from time to time depending on the Company's credit rating (as defined in the Revolving Credit Agreement) and were 0.625% per annum as of March 31, 2012. The credit facility is scheduled to terminate on January 1, 2014. During the term of the credit facility, the Company may borrow, repay and reborrow funds, and may obtain letters of credit, subject to customary borrowing conditions. Loans under the credit facility will bear interest based on the alternate base rate or the adjusted LIBOR rate (each as determined in the Revolving Credit Agreement), at the Company's election, plus a margin specified in the Revolving Credit Agreement based on the Company's credit rating. Letters of credit issued under the credit facility will also be subject to fees that vary depending on the Company's credit rating. The credit facility will be available for general corporate purposes but may not be used to fund dividend payments.

We also have a $100.0 million unsecured letter of credit facility. The terms of the letter of credit facility are set forth in a Credit Agreement, dated as of September 8, 2010, among the Company, the Lenders party thereto, and Deutsche Bank AG, New York Branch (the Bank), as Administrative Agent and Issuing Bank (the Letter of Credit Agreement). An initial letter of credit for $190.0 million was issued to the West Virginia Public Service Commission to guarantee certain of our capital investment commitments in West Virginia in connection with the Transaction. The initial commitments under the Letter of Credit Agreement expired on September 20, 2011, with the Bank exercising its option to extend $100.0 million of the commitments to September 20, 2012. The Company is required to pay an annual facility fee on the available commitment, regardless of usage. The covenants binding on the Company under the terms of the Letter of Credit Agreement are substantially similar to those in the Company's other credit facilities, including limitations on liens, substantial asset sales and mergers, subject to customary exceptions and thresholds.

As of March 31, 2012, we were in compliance with all of our debt and credit facility financial covenants.

Our principal payments for the next five years are as follows as of March 31, 2012:

	Principal
($ in thousands)	Payments

2012 (remaining nine months)	$	79,514
2013	$	638,767
2014	$	658,017
2015	$	858,049
2016	$	345,466
2017	$	1,100,501