the credit facility requires the company to maintain a ratio of consolidated debt to consolidated capitalization of not more than 0.70 to 1.00 . the ratio as of december 31 , 2017 was 0.59 to 1.00 . none of the company 2019s borrowings are subject to default or prepayment as a result of a downgrading of securities , although such a downgrading could increase fees and interest charges under the company 2019s credit facility