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Long-Term Debt (Tables)
 9 Months Ended
Nov. 30, 2019
Debt Disclosure [Abstract]  
Summary of long-term debt

The following table summarizes our long-term debt as of the end of the periods shown:
(in thousands)
November 30, 2019
February 28, 2019
Mississippi Business Finance Corporation Loan (the "MBFC Loan") (1)
$
20,447

$
22,335

Credit Agreement (2)
223,800

298,449

Total long-term debt
244,247

320,784

Less current maturities of long-term debt
(1,884
)
(1,884
)
Long-term debt, excluding current maturities
$
242,363

$
318,900


 
(1)
The MBFC Loan is unsecured and bears floating interest based on applicable LIBOR plus a margin of up to 2.0%, or a Base Rate plus a margin of up to 1.0%, as determined by the interest rate elected and the leverage ratio defined in the loan agreement. Since March 2018, the loan may be called by the holder at anytime.  The loan can be prepaid without penalty.  The remaining principal balance is payable as follows: $1.9 million annually on March 1, 2020 through 2022; and $14.8 million on March 1, 2023.  Any remaining outstanding principal and interest is due upon maturity on March 1, 2023.

(2)
The Credit Agreement matures on December 7, 2021. The Credit Agreement's floating interest rates are hedged with interest rate swaps to effectively fix interest rates on $225 million of the outstanding principal balance under the Credit Agreement.  Notes 13 and 14 to these condensed consolidated financial statements provide additional information regarding the interest rate swaps.