LONG-TERM DEBT

Our long-term debt consisted of the following at December 31, 2014 and June 30, 2015 (in thousands):



	December 31, 2014			June 30, 2015
Revolving credit facility, secured, floating rate	$	40,500		$	46,400
Term loan, secured, floating rate	120,312			115,625
Acquisition debt	1,205			5,437
Less: current portion	(9,630		)	(10,491		)
Total long-term debt	$	152,387		$	156,971

As of June 30, 2015, we had a $325 million secured bank credit facility (the “Credit Facility”) with Bank of America, N.A. as Administrative Agent, comprised of a $200 million revolving credit facility and a $125 million term loan. The Credit Facility also contains an accordion provision to borrow up to an additional $50 million in revolving loans, subject to certain conditions.

As of June 30, 2015, we had outstanding borrowings under the revolving credit facility of $46.4 million and approximately $115.6 million was outstanding on the term loan. No letters of credit were issued and outstanding under the Credit Facility at June 30, 2015. The weighted average interest rate on the Credit Facility for the three and six months ended June 30, 2015 was 2.4% and 2.5%, respectively.

On May 20, 2015, we entered into a sixth amendment (the “Sixth Amendment”) to the credit agreement. The Sixth Amendment provides that, among other things, we may repurchase our common stock so long as at the time of such repurchase there have been no defaults under the credit agreement, we have at least $15.0 million of unrestricted cash and undrawn borrowing capacity under the credit agreement and the senior secured leverage ratio is less than 3.25 to 1.00.

We were in compliance with the covenants contained in the Credit Facility as of June 30, 2015. The Credit Facility contains key ratios that we must comply with including a requirement to maintain a leverage ratio of no more than 3.50 to 1.00 and a covenant to maintain a fixed charge coverage ratio of no less than 1.20 to 1.00. As of June 30, 2015, the leverage ratio was 2.57 to 1.00 and the fixed charge coverage ratio was 2.69 to 1.00. The decline of the leverage ratio to below 2.50 to 1.00 at March 31, 2015 automatically triggered a 50 basis point interest rate decline on our outstanding revolving credit facility in the second quarter of 2015.

Acquisition debt consists of deferred purchase price and promissory notes payable to sellers. The increase in acquisition debt of $4.2 million was due primarily to the deferred payments related to the funeral home acquisition in February 2015.