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Note 4 - Debt
9 Months Ended
Jan. 26, 2013
Debt Disclosure [Text Block]
4.  DEBT

At January 26, 2013, a subsidiary of the Company maintained unsecured revolving credit facilities with banks aggregating $100 million (the “Credit Facilities”).  The Credit Facilities expire from November 22, 2015 to April 30, 2016 and current borrowings bear interest at 1% above LIBOR (1.2% at January 26, 2013).  At January 26, 2013, borrowings outstanding under the Credit Facilities were $60 million, $2.4 million of the Credit Facilities was used for standby letters of credit and $37.6 million was available for borrowings.

The Credit Facilities require the subsidiary to maintain certain financial ratios, including debt to net worth and debt to EBITDA (as defined in the loan agreements), and contain other restrictions, none of which are expected to have a material effect on our operations or financial position.   At January 26, 2013, we were in compliance with all loan covenants.