XML 26 R12.htm IDEA: XBRL DOCUMENT v3.20.1
Note 7 - Bank Credit Facility
3 Months Ended
Feb. 29, 2020
Notes to Financial Statements  
Debt Disclosure [Text Block]

7. Bank Credit Facility

 

Bank Credit Facility

 

Our credit facility with our bank provides for a line of credit of up to $25,000. This credit facility is unsecured and contains covenants requiring us to maintain certain key financial ratios. We are in compliance with all covenants under the agreement as of February 29, 2020. The credit facility will mature in December 2021. See Note 17, Subsequent Events, regarding a commitment received from our bank to amend the facility and increase the availability under the line.

 

At February 29, 2020, we had $2,673 outstanding under standby letters of credit against our line, leaving availability under our credit line of $22,327. In addition, we have outstanding standby letters of credit with another bank totaling $325.