Amtrak 2015 Annual Report Download - page 53

Download and view the complete annual report

Please find page 53 of the 2015 Amtrak annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 61

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61

National Railroad Passenger Corporation and Subsidiaries (Amtrak)
Notes to Consolidated Financial Statements (continued)
13. Subsequent Events (continued)
51
plus 1.0%; or (b) the LIBOR rate option, which is equal to the LIBOR rate for the applicable period plus a
margin based on the Company’s Standard & Poor’s and Moody’s ratings (Credit Ratings). Amtrak must pay
a commitment fee on any undrawn portion of the revolving credit facility commitment ranging between 8.5
and 25 basis points based on Amtrak’s Credit Ratings. Under the facility, Amtrak is subject to restrictive
covenants and financial covenants that require the Company and its subsidiaries to maintain certain financial
ratios on a consolidated basis. As of August 3, 2016, the Company has not made any draws under the facility.
Management’s Evaluation
The Company has evaluated subsequent events through August 3, 2016 which is the date the financial
statements were available to be issued. There were no other events that require adjustments to or disclosure
in the Company’s financial statements for FY2015.