CREDIT ARRANGEMENTS

6 Months Ended

Feb. 29, 2020

NOTE 8. CREDIT ARRANGEMENTS

Long-term debt at February 29, 2020 and August 31, 2019 was as follows:


(in thousands)	Weighted Average Interest Rate at February 29, 2020	February 29, 2020		August 31, 2019
2027 Notes	5.375%	$	300,000	$	300,000
2026 Notes	5.750%	350,000		350,000
2023 Notes	4.875%	330,000		330,000
Term Loan	3.409%	110,125		210,125
Poland credit facilities	2.637%	11,290		—
Short-term borrowings	2.400%	8,272		3,929
Other	5.100%	23,168		23,168
Finance leases		43,858		37,699
Total debt		1,176,713		1,254,921
Less debt issuance costs		9,425		10,268
Total amounts outstanding		1,167,288		1,244,653
Less current maturities		14,443		13,510
Less short-term borrowings		8,272		3,929
Current maturities of long-term debt and short-term borrowings		22,715		17,439
Long-term debt		$	1,144,573	$	1,227,214

The Company had no amounts drawn under the $350.0 million revolving credit facility (the "Revolver") at February 29, 2020 and August 31, 2019. The availability under the Revolver was reduced by outstanding stand-by letters of credit of $3.0 million at February 29, 2020 and August 31, 2019.

The Company also has credit facilities in Poland through its subsidiary CMCP. At February 29, 2020, CMCP's credit facilities totaled Polish zloty ("PLN") 275.0 million, or $70.0 million. These facilities expire in March 2022. At February 29, 2020, $11.3 million was outstanding under these facilities. No amounts were outstanding as of August 31, 2019. The available balance of these credit facilities was further reduced by outstanding stand-by letters of credit, guarantees, and/or other financial assurance instruments, which totaled $0.8 million and $1.1 million at February 29, 2020 and August 31, 2019, respectively.

The Company's debt agreements require the Company to comply with certain non-financial and financial covenants, including an interest coverage ratio and a debt to capitalization ratio. At February 29, 2020, the Company was in compliance with all covenants contained in its debt agreements.

Accounts Receivable Facilities

The Company had no advance payments outstanding under the U.S. accounts receivable facility at February 29, 2020 or August 31, 2019.

The Poland accounts receivable facility has a limit of PLN 220.0 million ($56.0 million at February 29, 2020). The Company had $8.3 million of advance payments outstanding under the Poland accounts receivable facility at February 29, 2020, and $3.9 million at August 31, 2019.