DEBT

Short-term borrowings consist of lines of credit which are secured by certain assets of the Company and its subsidiaries and in some cases are guaranteed by the Company as summarized below (in thousands):



			Facilities Used
	Total Amount of Facilities		Short-term Borrowings		Letters of Credit		Facilities Available		Weighted average interest rate
November 30, 2015	$	57,656	$	1,935	$	87	$	55,634	5.9	%
August 31, 2015	$	57,691	$	6,606	$	728	$	50,357	5.9	%

As of November 30, 2015 and August 31, 2015, the Company had approximately $40.0 million of short-term facilities in the U.S. that require compliance with certain quarterly financial covenants, which include debt service and leverage ratios. As of November 30, 2015 and August 31, 2015, the Company was in compliance with respect to these covenants. Each of the facilities expires annually and is normally renewed.

The following table provides the changes in long-term debt for the three months ended November 30, 2015:



(Amounts in thousands)	Current Portion of Long-term debt			Long-term debt			Total
Balances as of August 31, 2015	$	17,169		$	73,365		$	90,534		⁽¹⁾
Proceeds from long-term debt incurred during the period:
Costa Rica subsidiary	—			7,370			7,370
Repayments of long-term debt:
Regularly scheduled loan payments	(238		)	(3,107		)	(3,345		)
Reclassifications of long-term debt	(944		)	944			—
Translation adjustments on foreign-currency debt of subsidiaries whose functional currency is not the U.S. dollar ⁽²⁾	(1		)	(135		)	(136		)
Balances as of November 30, 2015	$	15,986		$	78,437		$	94,423		⁽³⁾


⁽¹⁾	The carrying amount on non-cash assets assigned as collateral for this total was $104.1 million. No cash assets were assigned as collateral for this total.


⁽²⁾	These foreign currency translation adjustments are recorded within Other comprehensive income.


⁽³⁾	The carrying amount on non-cash assets assigned as collateral for this total was $107.5 million. No cash assets were assigned as collateral for this total.

As of November 30, 2015, the Company had approximately $45.6 million of long-term loans in Trinidad, Panama, El Salvador, Honduras, Costa Rica and Colombia that require these subsidiaries to comply with certain annual or quarterly financial covenants, which include debt service and leverage ratios. As of November 30, 2015, the Company was in compliance with all covenants or amended covenants.

As of August 31, 2015, the Company had approximately $47.4 million of long-term loans in Trinidad, Panama, El Salvador, Honduras, Costa Rica and Colombia that require these subsidiaries to comply with certain annual or quarterly financial covenants, which include debt service and leverage ratios. As of August 31, 2015, the Company was in compliance with all covenants or amended covenants.

Annual maturities of long-term debt are as follows (in thousands):



Three months ended November 30,	Amount
2016	$	15,540
2017	13,294
2018	12,797
2019	27,932
2020	16,506
Thereafter	4,424
Total	$	90,493