GUARANTEES AND COLLATERAL

12 Months Ended

Dec. 31, 2019

GUARANTEES AND COLLATERAL [Abstract]

Note 9—Guarantees and Collateral

Guarantees

Contemporaneously with the execution of the revolving credit facility, the Company agreed to guarantee all payment and performance obligations of MEH under the credit agreement to the lenders. Currently, the Company expects that it will not need to make any payments under this guarantee.

Collateral and Restricted Assets

The following tables summarize assets that are either pledged or restricted for the Company’s use at December 31, 2019 and December 31, 2018:


	At
	December 31, 2019
			Investments				Total
	Restricted		in Debt		Investments in		Assets
(in thousands)	Cash		Securities		Partnerships		Pledged
Debt related to the revolving credit facility	$	1,070	$	─	$	289,123	$	290,193
Debt and derivatives related to the Company's 11.85% ownership interest in SAWHF		1,369		─		7,732		9,101
Interest rate swaps		1,803		─		─		1,803
Other		8		─		─		8
Total	$	4,250	$	─	$	296,855	$	301,105


	At
	December 31, 2018
			Investments				Total
	Restricted		in Debt		Investments in		Assets
(in thousands)	Cash		Securities		Partnerships		Pledged
Debt and derivatives related to TRS agreements	$	4,287	$	85,347	$	─	$	89,634
Debt and derivatives related to the Company's 11.85% ownership interest in SAWHF		1,340		─		8,779		10,119
Other		8		─		─		8
Total	$	5,635	$	85,347	$	8,779	$	99,761