Quarterly report pursuant to Section 13 or 15(d)

Debt (Tables)

v3.7.0.1
Debt (Tables)
6 Months Ended
Jun. 30, 2017
Debt Disclosure [Abstract]  
Schedule of Debt [Table Text Block]
Long-term debt consists of the following obligations as of:
 
 
 
Successor
 
 
 
June 30,
 
December 31,
 
(in thousands)
 
2017
 
2016
 
Credit Agreement – revolver (Successor)
 
$
-
 
$
-
 
Credit Agreement – term loan payable in quarterly installments of principal, plus interest through 2021
 
 
19,135
 
 
22,500
 
Casualty insurance premium financing
 
 
971
 
 
-
 
State of Ohio loan- payable in monthly installments of principal, plus interest at 3% through 2017
 
 
-
 
 
33
 
Capital leases – collateralized by vehicles, payable in monthly installments of principal, plus interest ranging from 4.9% to 5.3% through 2021
 
 
3,633
 
 
3,719
 
Total debt
 
 
23,739
 
 
26,252
 
Less - Current portion
 
 
(5,390)
 
 
(4,476)
 
Less - Debt issuance costs
 
 
(239)
 
 
(269)
 
Long-term debt
 
$
18,110
 
$
21,507
 
Senior Leverage ratio covenant [Table Text Block]
The following is a summary of the additional margin and commitment fees payable on the available revolving credit commitment:
 
 
 
 
 
Additional Margin for
 
 
Additional Margin for
 
 
 
 
Level
 
Senior Leverage Ratio
 
Base Rate loans
 
 
Libor Rate loans
 
 
Commitment Fee
 
I
 
Greater than or equal to 2.50 to  1.00
 
 
3.00
%
 
 
4.00
%
 
 
0.50
%
II
 
Less than 2.50 to 1.00, but greater than or equal to 2.00 to 1.00
 
 
2.75
%
 
 
3.75
%
 
 
0.50
%
III
 
Less than 2.00 to 1.00, but greater than or equal to 1.50 to 1.00
 
 
2.50
%
 
 
3.50
%
 
 
0.50
%
IV
 
Less than 1.50 to 1.00
 
 
2.25
%
 
 
3.25
%
 
 
0.50
%