Accounts Receivable Securitization
|
12 Months Ended |
---|---|
Aug. 31, 2012
|
|
Accounts Receivable Securitization |
Note 5. Accounts Receivable Securitization Historically, the Company maintained an accounts receivable securitization program under which it sold certain of its trade accounts receivable to a wholly-owned, bankruptcy-remote special purpose subsidiary which, in turn, sold participating interests in its pool of receivables to a third party financial institution. The Company did not renew the securitization program on its September 9, 2009 maturity date and as a result, utilized availability under the Senior Credit Facility to fund the corresponding $37.1 million increase in accounts receivable. |
X | ||||||||||
- Definition
Debt And Receivables Securitization [Text Block] No definition available.
|