GUARANTEES AND COLLATERAL

3 Months Ended

Mar. 31, 2020

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 March 31, 2020 and December 31, 2019:


	At
	March 31, 2020
					Total
	Restricted		Investments in		Assets
(in thousands)	Cash		Partnerships		Pledged
Debt related to the revolving credit facility	$	1,726	$	344,601	$	346,327
Debt and derivatives related to the Company's 11.85% ownership interest in SAWHF		1,374		4,761		6,135
Interest rate swaps		3,901		─		3,901
Other		8		─		8
Total	$	7,009	$	349,362	$	356,371


	At
	December 31, 2019
					Total
	Restricted		Investments in		Assets
(in thousands)	Cash		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