SUBSEQUENT EVENTS

12 Months Ended

Dec. 31, 2012

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS

23. SUBSEQUENT EVENTS

On January 18, 2013, Moody’s Investor Services lowered its credit rating on the Company’s 8.375% Senior Notes two notches to B1. See Note 8 for a further discussion of this downgrade and the impact on the Company’s per annum interest expense.

In March 2013, the Company entered into an amendment to its Credit Agreement, which decreased the maximum borrowing capacity to $75,000 until December 2013, at which time $18,750 of the lender commitments mature.  The remaining $56,250 of lender commitments mature in December 2015.  See Note 8 for further details on the Credit Agreement.

In March 2013, the Company repurchased $10,000 principal amount of its 8.375% Senior Notes on the open market for an aggregate purchase price of $9,602, including accrued interest and sales commissions. The Company funded the repurchase of these notes with borrowings under its Credit Agreement.

Subsequent events have been evaluated for disclosure in the notes to the Consolidated Financial Statements through the filing date of this Form 10-K.