v3.22.2.2
Debt and Financing Lease Obligations (Tables)
 9 Months Ended
Oct. 31, 2022
Debt Disclosure [Abstract]  
Long-term Debt
Debt and financing lease obligations consisted of the following:
(in thousands)October 31,
2022		January 31,
2022
Revolving Credit Facility$114,000 $149,000 
2020-A VIE Asset-backed Class A Notes— 9,184 
2020-A VIE Asset-backed Class B Notes— 18,342 
2020-A VIE Asset-backed Class C Notes— 17,695 
2021-A VIE Asset-backed Class A Notes24,287 195,595 
2021-A VIE Asset-backed Class B Notes66,090 66,090 
2021-A VIE Asset-backed Class C Notes63,890 63,890 
2022-A VIE Asset-backed Class A Notes191,174 — 
2022-A VIE Asset-backed Class B Notes132,090 — 
Financing lease obligations5,436 6,115 
Total debt and financing lease obligations596,967 525,911 
Less:
Deferred debt issuance costs(4,375)(2,873)
Current maturities of long-term debt and financing lease obligations(919)(889)
Long-term debt and financing lease obligations$591,673 $522,149 
Schedule of Asset-backed Notes
The asset-backed notes outstanding as of October 31, 2022 consisted of the following:
(dollars in thousands)
Asset-Backed NotesOriginal Principal Amount
Original Net Proceeds (1)
Current Principal AmountIssuance DateMaturity DateContractual Interest Rate
Effective Interest Rate (2)
2021-A Class A Notes$247,830 $246,152 $24,287 11/23/20215/15/20261.05%3.13%
2021-A Class B Notes66,090 65,635 66,090 11/23/20215/15/20262.87%3.54%
2021-A Class C Notes63,890 63,450 63,890 11/23/20215/15/20264.59%5.08%
2022-A Class A Notes275,600 273,731 191,174 7/21/202212/15/20265.87%8.38%
2022-A Class B Notes132,090 129,050 132,090 7/21/202212/15/20269.52%10.27%
Total$785,500 $778,018 $477,531 
(1)After giving effect to debt issuance costs.
(2)For the nine months ended October 31, 2022, and inclusive of the impact of changes in timing of actual and expected cash flows.
Covenant Compliance
A summary of the significant financial covenants that govern our Revolving Credit Facility compared to our actual compliance status at October 31, 2022 is presented below: 
 ActualRequired Minimum/ Maximum
Interest Coverage Ratio for the quarter must equal or exceed minimumNot Tested1.00:1.00
Interest Coverage Ratio for the trailing two quarters must equal or exceed minimumNot Tested1.50:1.00
Leverage Ratio must not exceed maximum1.64:1.004.50:1.00
ABS Excluded Leverage Ratio must not exceed maximum0.84:1.002.50:1.00
Capital Expenditures, net, must not exceed maximum$50.4 million$100.0 million