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DEBT (Tables)
3 Months Ended
Mar. 31, 2015
DEBT  
Schedule of long-term debt

 

 

March 31,

 

December 31,

 

$s in thousands

 

2015

 

2014

 

 

 

 

 

 

 

Term loan

 

$

373,621

 

$

395,616

 

Net discount on term loan

 

(926

)

(963

)

Total debt

 

372,695

 

394,653

 

Current portion of long-term debt

 

(3,616

)

(3,828

)

Long-term debt

 

$

369,079

 

$

390,825

 

 

Schedule of maximum consolidated senior secured leverage ratio for different periods

Fiscal Quarters Ending

 

Maximum Ratio

 

June 30, 2014 through September 30, 2015

 

4.00 to 1.00

 

December 31, 2015 through September 30, 2016

 

3.75 to 1.00

 

December 31, 2016 through September 30, 2017

 

3.50 to 1.00

 

December 31, 2017 through September 30, 2018

 

3.25 to 1.00

 

December 31, 2018 and thereafter

 

3.00 to 1.00