Amtrak 2014 Annual Report Download - page 41

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National Railroad Passenger Corporation and Subsidiaries (Amtrak)
Notes to Consolidated Financial Statements (continued)
1509-1694994 33
6. Mortgages and Debt (continued)
Scheduled Debt Maturities
On September 30, 2014, scheduled maturities of debt are (in thousands):
Year Ending September 30,
2015 $ 67,371
2016 67,045
2017 105,457
2018 44,698
2019 48,486
Thereafter 423,892
Principal amount of long-term debt 756,949
Less unamortized discount (8,838)
Total long-term debt $ 748,111
Amtrak is subject to various covenants and restrictions under its borrowing arrangements. A
default by Amtrak or acceleration of Amtrak’ s indebtedness may result in cross-default with
other debt and may have a material adverse effect on the Company. As of September 30, 2014,
the Company had failed to meet its covenant obligation under its borrowing arrangements to
provide on a timely basis its audited financial statements, as of and for the year ended
September 30, 2013. Waivers were received from certain lenders where necessary to prevent a
default and upon delivery of the audited financial statements for the year ended September 30,
2013 in November 2014, the Company came into compliance with its financial reporting
covenant obligation. However, in January 2015, the Company failed to meet its covenant
obligation to provide on a timely basis its audited financial statements as of and for the year
ended September 30, 2014. Waivers were received from certain lenders where necessary to
prevent a default, and upon delivery of these audited financial statements, the Company will
have satisfied all of its financial reporting covenant obligations.