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DEBT (Tables)
3 Months Ended
Mar. 31, 2016
DEBT  
Schedule of long-term debt

 

 

March 31,

 

December 31,

 

$s in thousands

 

2016

 

2015

 

 

 

 

 

 

 

Term loan

 

$

290,230

 

$

300,994

 

Unamortized discount and debt issuance costs

 

(6,724

)

(7,254

)

 

 

 

 

 

 

Total debt

 

283,506

 

293,740

 

Current portion of long-term debt

 

(2,954

)

(3,056

)

 

 

 

 

 

 

Long-term debt

 

$

280,552

 

$

290,684

 

 

 

 

 

 

 

 

 

 

Schedule of maximum consolidated senior secured leverage ratio for different periods

Fiscal Quarters Ending

 

Maximum Ratio

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