Item 3. Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures about Market Risk
Interest Rate Risk
The Company’s outstanding debt under its revolving credit facility was $265.6 million at September 30, 2024. Interest on borrowings under this facility is based on the greater of 4.5% or one month SOFR plus 0.10% and an applicable margin of 3.5%. Based on the outstanding balance under the Company's revolving credit facility at September 30, 2024, a change of 1.0% in the interest rate would cause a change in interest expense of approximately $2.7 million on an annual basis.
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.