LONG-TERM DEBT

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



	December 31, 2014			September 30, 2015
Revolving credit facility, secured, floating rate	$	40,500		$	63,000
Term loan, secured, floating rate	120,312			113,282
Acquisition debt	1,205			5,210
Less: current portion	(9,630		)	(11,250		)
Total long-term debt	$	152,387		$	170,242

As of September 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 September 30, 2015, we had outstanding borrowings under the revolving credit facility of $63.0 million and approximately $113.3 million was outstanding on the term loan. No letters of credit were issued and outstanding under the Credit Facility at September 30, 2015. The weighted average interest rate on the Credit Facility for the three and nine months ended September 30, 2015 was 2.6% and 2.5%, respectively.

We were in compliance with the covenants contained in the Credit Facility as of September 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 September 30, 2015, the leverage ratio was 2.66 to 1.00 and the fixed charge coverage ratio was 2.78 to 1.00. The increase in the leverage ratio above 2.50 to 1.00 at June 30, 2015 automatically triggered a 50 basis point interest rate increase on our outstanding revolving credit facility in the third quarter of 2015.

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