CREDIT AGREEMENT (Tables)

12 Months Ended

Dec. 31, 2011

Summary of Credit Agreement and Prior Credit Facility

A summary of our credit agreement as of December 31, 2011 and December 31, 2010 is as follows (dollars in thousands):

	December 31,
	2011			2010
Credit limit:
Revolving credit facility	$	60,000		$	40,000
Term loan		59,000			40,000
Outstanding principal balance on the term loan, less unamortized discount of $573 and $444, respectively, due November 2014		58,177			19,306
Outstanding balance on revolving credit facility		100			—
Letters of credit issued		11,130			4,135
Borrowing capacity		48,770			55,865
Interest rate – term loan		3.8	%		3.6	%
Interest rate – revolving credit facility		5.0	%		—	%

Maturities of Term Loan

Maturities of the term loan are as follows:
2012	$	3,000
2013		3,000
2014		52,750
	$	58,750