by “ middle-market companies , ” we mean companies that have annual ebitda , which we believe is a useful proxy for cash flow , of $ 10 million to $ 250 million , although we may invest in larger or smaller companies on occasion . as of december 31 , 2014 , our core portfolio companies , which excludes certain investments that fall outside of our typical borrower profile , had weighted average annual revenue of $ 145 million and weighted average annual ebitda of $ 34 million . we invest in first-lien debt , second-lien debt , mezzanine debt and equity and other investments . our first-lien debt may include stand-alone first-lien loans ; “ last out ” first-lien loans , which are loans that have a secondary priority behind super-senior “ first out ” first-lien loans ; “ unitranche ” loans , which are loans that combine features of first-lien , second-lien and mezzanine debt , generally in a first-lien position ; and secured corporate bonds with similar features to these categories of first-lien loans . our second-lien debt may include secured loans , and , to a lesser extent , secured corporate bonds , with a secondary priority behind first-lien debt . as of december 31 , 2014 , our average investment size in each of our portfolio companies was approximately $ 37 million . the companies in which we invest use our capital to support organic growth , acquisitions , market or product expansion and recapitalizations . we expect that no single investment will represent more than 15 % of our total investment portfolio . the debt in which we invest typically is not rated by any rating agency , but if these instruments were rated , they would likely receive a rating of below investment grade ( that is , below bbb- or baa3 ) , which is often referred to as “ junk ” . through our adviser , we consider potential investments utilizing a four-tiered investment framework and against our existing portfolio as a whole : business and sector selection . we focus on companies with enterprise value between $ 50 million and $ 1 billion . when reviewing potential investments , we seek to invest in businesses with high marginal cash flow , recurring revenue streams and where we believe credit quality will improve over time . we look for portfolio companies that we think have a sustainable competitive advantage in growing industries or distressed situations . we also seek companies where our investment will have a low loan-to-value ratio . we currently do not limit our focus to any specific industry and we may invest in larger or smaller companies on occasion . we classify the industries of our portfolio companies by end-market ( such as healthcare and pharmaceuticals , and business services ) and not by the products or services ( such as software ) directed to those end-markets . as of december 31 , 2014 , no industry represented more than 17.3 % of our total investment portfolio . investment structuring . we focus on investing at the top of the capital structure and protecting that position . as of december 31 , 2014 , approximately 97.8 % of our portfolio was invested in secured debt , including 89.0 % in first-lien debt investments . we carefully diligence and structure investments to include strong investor covenants . as a result , we structure investments with a view to creating opportunities for early intervention in the event of non-performance or stress . in addition , we seek to retain effective voting control in investments over the loans or particular class of securities in which we invest through maintaining affirmative voting positions or negotiating consent rights that allow us to retain a blocking position . we also aim for our loans to mature on a medium term , between two to six years after origination . for the year ended december 31 , 2014 , the weighted average term on new investment commitments in new portfolio companies was 4.7 years . deal dynamics . we focus on , among other deal dynamics , direct origination of investments , where we identify and lead the investment transaction . a substantial majority of our portfolio investments are sourced through our direct or proprietary relationships . risk mitigation . we seek to mitigate non-credit-related risk on our returns in several ways , including call protection provisions to protect future payment income . as of december 31 , 2014 , we had call protection on 96.8 % of our debt investments , with weighted average call prices of 106.9 % for the first year , 103.9 % for the second year and 101.4 % for the third year , in each case from the date of the initial investment . as of december 31 , 2014 , 96.8 % of our debt investments bore interest at floating rates , subject to interest rate floors , which we believe helps act as a portfolio-wide hedge against inflation . 53 relationship with our adviser , tssp and tpg our adviser is a delaware limited liability company . our adviser acts as our investment adviser and administrator and is a registered investment adviser with the sec under the advisers act . our adviser sources and manages our portfolio through a dedicated team of investment professionals predominately focused on us . our investment team is led by our chairman and co-chief executive officer and our adviser 's co-chief investment officer joshua easterly , our co-chief executive officer michael fishman and our adviser 's co-chief investment officer alan waxman , all of whom have substantial experience in credit origination , underwriting and asset management . our investment decisions are made by our investment review committee , which includes senior personnel of our adviser and tssp . story_separator_special_tag for these investments , the adviser generally prepares monthly reports on loan performance and intensive quarterly asset reviews . · an investment is rated 2 if it is performing as agreed , but , in the opinion of the adviser , there may be concerns about the company 's operating performance or trends in the industry . for these investments , in addition to monthly reports and quarterly asset reviews , the adviser also researches any areas of concern with the objective of early intervention with the borrower . 58 · an investment will be assigned a rating of 3 if it is paying as agreed but a covenant violation is expected . for these investments , in addition to monthly reports and quarterly asset reviews , the adviser also adds the company to its “ watch list ” and researches any areas of concern with the objective of early intervention with the borrower . · an investment will be assigned a rating of 4 if a material covenant has been violated , but the company is making its scheduled payments . for these investments , the adviser prepares a bi-monthly asset review email and generally has monthly meetings with senior management . for investments where there have been material defaults , including bankruptcy filings , failures to achieve financial performance requirements or failure to maintain liquidity or loan-to-value requirements , the adviser often will take immediate action to protect its position . these remedies may include negotiating for additional collateral , modifying loan terms or structure , or payment of amendment and waiver fees . · a rating of 5 indicates an investment is in default on its interest or principal payments . for these investments , our adviser reviews the loans on a bi-monthly basis and , where possible , pursues workouts that achieve an early resolution to avoid further deterioration . the adviser retains legal counsel and takes actions to preserve our rights , which may include working with the borrower to have the default cured , to have the loan restructured or to have the loan repaid through a consensual workout . the following table shows the distribution of our investments on the 1 to 5 investment performance rating scale at fair value as of december 31 , 2014 and 2013. investment performance ratings are accurate only as of those dates and may change due to subsequent developments relating to a portfolio company 's business or financial condition , market conditions or developments , and other factors . replace_table_token_19_th results of operations operating results for the years ended december 31 , 2014 , 2013 and 2012 were as follows : replace_table_token_20_th ( 1 ) includes foreign exchange hedging activity . investment income replace_table_token_21_th interest from investments , which includes amortization of upfront fees and prepayment fees , increased from $ 90.4 million for the year ended december 31 , 2013 to $ 154.0 million for the year ended december 31 , 2014 , primarily due to the increase in the size of 59 our investment portfolio . the average size of our investment portfolio increased from $ 0.8 billion during the year ended december 31 , 2013 to $ 1.2 billion during the year ended december 31 , 2014. in addition , accelerated amortization of upfront fees primarily from unscheduled paydowns increased from $ 3.0 million for the year ended december 31 , 2013 to $ 12.5 million for the year ended december 31 , 2014. in addition , prepayment fees increased from $ 3.0 million for the year ended december 31 , 2013 to $ 21.0 million for the year ended december 31 , 2014. the accelerated amortization and prepayment fees primarily resulted from partial paydowns on three portfolio investments and full paydowns on five portfolio investments during the year ended december 31 , 2013 and from partial paydowns on two portfolio investments , full paydowns on thirteen portfolio investments and the expiration of one unfunded commitment during the year ended december 31 , 2014. other income increased from $ 2.2 million for the year ended december 31 , 2013 to $ 9.3 million for the year ended december 31 , 2014 , primarily due to higher syndication , amendment and agency fees earned during 2014. interest from investments , which includes amortization of upfront fees and prepayment fees , increased from $ 49.1 million for the year ended december 31 , 2012 to $ 90.4 million for the year ended december 31 , 2013 , primarily due to the increase in the size of our portfolio . the average size of our total investment portfolio at fair value increased from $ 417 million during the year ended december 31 , 2012 to $ 795 million during the year ended december 31 , 2013. in addition , prepayment fees increased from $ 0.9 million for the year ended december 31 , 2012 to $ 3.0 million for the year ended december 31 , 2013. these prepayment fees resulted from full or partial paydowns on portfolio investments . dividend income was $ 1.2 million for the year ended december 31 , 2012 due to the receipt of a dividend from a non-controlled , affiliated investment . there was no dividend income in the year ended december 31 , 2013. other income increased from $ 0.7 million for the year ended december 31 , 2012 to $ 2.2 million for the year ended december 31 , 2013 , primarily due to higher syndication , amendment and agency fees earned during 2013. expenses operating expenses for the years ended december 31 , 2014 , 2013 and 2012 were as follows : replace_table_token_22_th interest interest , including other debt financing expenses , increased from $ 10.5 million for the year ended december 31 , 2013 to $ 15.1 million for the year ended december 31 , 2014. this increase was primarily due to an increase in the weighted average debt outstanding from $ 266 million for the year ended

debt debt consisted of the following as of december 31 , 2014 and 2013 : replace_table_token_24_th replace_table_token_25_th 65 ( 1 ) the amount available reflects any limitations related to the respective debt facilities ' borrowing bases . ( 2 ) the reinvestment period under the spv asset facility terminated on january 21 , 2015 and accordingly any undrawn availability under the facility also terminated ( 3 ) on february 27 , 2014 , we terminated the subscription credit facility , effective march 4 , 2014. the outstanding balance was paid down prior to terminating the facility . as of december 31 , 2014 and december 31 , 2013 , we were in compliance with the terms of our debt arrangements . we intend to continue to utilize our credit facilities to fund investments and for other general corporate purposes . revolving credit facility on august 23 , 2012 , we entered into a senior secured revolving credit agreement with suntrust bank , as administrative agent , and j.p. morgan chase bank , n.a. , as syndication agent , and certain other lenders . on july 2 , 2013 , we entered into an agreement to amend and restate the agreement , effective on july 3 , 2013. the amended and restated facility , among other things , increased the size of the facility from $ 200 million to $ 350 million . the facility included an uncommitted accordion feature that allowed us , under certain circumstances , to increase the size of the facility up to $ 550 million . on september 30 , 2013 , we exercised our right under the accordion feature and increased the size of the facility to $ 400 million . on january 27 , 2014 , we again exercised our right under the accordion feature and increased the size of the facility to $ 420 million . on february 27 , 2014 , we further amended and restated the agreement .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```debt debt consisted of the following as of december 31 , 2014 and 2013 : replace_table_token_24_th replace_table_token_25_th 65 ( 1 ) the amount available reflects any limitations related to the respective debt facilities ' borrowing bases . ( 2 ) the reinvestment period under the spv asset facility terminated on january 21 , 2015 and accordingly any undrawn availability under the facility also terminated ( 3 ) on february 27 , 2014 , we terminated the subscription credit facility , effective march 4 , 2014. the outstanding balance was paid down prior to terminating the facility . as of december 31 , 2014 and december 31 , 2013 , we were in compliance with the terms of our debt arrangements . we intend to continue to utilize our credit facilities to fund investments and for other general corporate purposes . revolving credit facility on august 23 , 2012 , we entered into a senior secured revolving credit agreement with suntrust bank , as administrative agent , and j.p. morgan chase bank , n.a. , as syndication agent , and certain other lenders . on july 2 , 2013 , we entered into an agreement to amend and restate the agreement , effective on july 3 , 2013. the amended and restated facility , among other things , increased the size of the facility from $ 200 million to $ 350 million . the facility included an uncommitted accordion feature that allowed us , under certain circumstances , to increase the size of the facility up to $ 550 million . on september 30 , 2013 , we exercised our right under the accordion feature and increased the size of the facility to $ 400 million . on january 27 , 2014 , we again exercised our right under the accordion feature and increased the size of the facility to $ 420 million . on february 27 , 2014 , we further amended and restated the agreement .
```    
 Suspicious Activity Report : by “ middle-market companies , ” we mean companies that have annual ebitda , which we believe is a useful proxy for cash flow , of $ 10 million to $ 250 million , although we may invest in larger or smaller companies on occasion . as of december 31 , 2014 , our core portfolio companies , which excludes certain investments that fall outside of our typical borrower profile , had weighted average annual revenue of $ 145 million and weighted average annual ebitda of $ 34 million . we invest in first-lien debt , second-lien debt , mezzanine debt and equity and other investments . our first-lien debt may include stand-alone first-lien loans ; “ last out ” first-lien loans , which are loans that have a secondary priority behind super-senior “ first out ” first-lien loans ; “ unitranche ” loans , which are loans that combine features of first-lien , second-lien and mezzanine debt , generally in a first-lien position ; and secured corporate bonds with similar features to these categories of first-lien loans . our second-lien debt may include secured loans , and , to a lesser extent , secured corporate bonds , with a secondary priority behind first-lien debt . as of december 31 , 2014 , our average investment size in each of our portfolio companies was approximately $ 37 million . the companies in which we invest use our capital to support organic growth , acquisitions , market or product expansion and recapitalizations . we expect that no single investment will represent more than 15 % of our total investment portfolio . the debt in which we invest typically is not rated by any rating agency , but if these instruments were rated , they would likely receive a rating of below investment grade ( that is , below bbb- or baa3 ) , which is often referred to as “ junk ” . through our adviser , we consider potential investments utilizing a four-tiered investment framework and against our existing portfolio as a whole : business and sector selection . we focus on companies with enterprise value between $ 50 million and $ 1 billion . when reviewing potential investments , we seek to invest in businesses with high marginal cash flow , recurring revenue streams and where we believe credit quality will improve over time . we look for portfolio companies that we think have a sustainable competitive advantage in growing industries or distressed situations . we also seek companies where our investment will have a low loan-to-value ratio . we currently do not limit our focus to any specific industry and we may invest in larger or smaller companies on occasion . we classify the industries of our portfolio companies by end-market ( such as healthcare and pharmaceuticals , and business services ) and not by the products or services ( such as software ) directed to those end-markets . as of december 31 , 2014 , no industry represented more than 17.3 % of our total investment portfolio . investment structuring . we focus on investing at the top of the capital structure and protecting that position . as of december 31 , 2014 , approximately 97.8 % of our portfolio was invested in secured debt , including 89.0 % in first-lien debt investments . we carefully diligence and structure investments to include strong investor covenants . as a result , we structure investments with a view to creating opportunities for early intervention in the event of non-performance or stress . in addition , we seek to retain effective voting control in investments over the loans or particular class of securities in which we invest through maintaining affirmative voting positions or negotiating consent rights that allow us to retain a blocking position . we also aim for our loans to mature on a medium term , between two to six years after origination . for the year ended december 31 , 2014 , the weighted average term on new investment commitments in new portfolio companies was 4.7 years . deal dynamics . we focus on , among other deal dynamics , direct origination of investments , where we identify and lead the investment transaction . a substantial majority of our portfolio investments are sourced through our direct or proprietary relationships . risk mitigation . we seek to mitigate non-credit-related risk on our returns in several ways , including call protection provisions to protect future payment income . as of december 31 , 2014 , we had call protection on 96.8 % of our debt investments , with weighted average call prices of 106.9 % for the first year , 103.9 % for the second year and 101.4 % for the third year , in each case from the date of the initial investment . as of december 31 , 2014 , 96.8 % of our debt investments bore interest at floating rates , subject to interest rate floors , which we believe helps act as a portfolio-wide hedge against inflation . 53 relationship with our adviser , tssp and tpg our adviser is a delaware limited liability company . our adviser acts as our investment adviser and administrator and is a registered investment adviser with the sec under the advisers act . our adviser sources and manages our portfolio through a dedicated team of investment professionals predominately focused on us . our investment team is led by our chairman and co-chief executive officer and our adviser 's co-chief investment officer joshua easterly , our co-chief executive officer michael fishman and our adviser 's co-chief investment officer alan waxman , all of whom have substantial experience in credit origination , underwriting and asset management . our investment decisions are made by our investment review committee , which includes senior personnel of our adviser and tssp . story_separator_special_tag for these investments , the adviser generally prepares monthly reports on loan performance and intensive quarterly asset reviews . · an investment is rated 2 if it is performing as agreed , but , in the opinion of the adviser , there may be concerns about the company 's operating performance or trends in the industry . for these investments , in addition to monthly reports and quarterly asset reviews , the adviser also researches any areas of concern with the objective of early intervention with the borrower . 58 · an investment will be assigned a rating of 3 if it is paying as agreed but a covenant violation is expected . for these investments , in addition to monthly reports and quarterly asset reviews , the adviser also adds the company to its “ watch list ” and researches any areas of concern with the objective of early intervention with the borrower . · an investment will be assigned a rating of 4 if a material covenant has been violated , but the company is making its scheduled payments . for these investments , the adviser prepares a bi-monthly asset review email and generally has monthly meetings with senior management . for investments where there have been material defaults , including bankruptcy filings , failures to achieve financial performance requirements or failure to maintain liquidity or loan-to-value requirements , the adviser often will take immediate action to protect its position . these remedies may include negotiating for additional collateral , modifying loan terms or structure , or payment of amendment and waiver fees . · a rating of 5 indicates an investment is in default on its interest or principal payments . for these investments , our adviser reviews the loans on a bi-monthly basis and , where possible , pursues workouts that achieve an early resolution to avoid further deterioration . the adviser retains legal counsel and takes actions to preserve our rights , which may include working with the borrower to have the default cured , to have the loan restructured or to have the loan repaid through a consensual workout . the following table shows the distribution of our investments on the 1 to 5 investment performance rating scale at fair value as of december 31 , 2014 and 2013. investment performance ratings are accurate only as of those dates and may change due to subsequent developments relating to a portfolio company 's business or financial condition , market conditions or developments , and other factors . replace_table_token_19_th results of operations operating results for the years ended december 31 , 2014 , 2013 and 2012 were as follows : replace_table_token_20_th ( 1 ) includes foreign exchange hedging activity . investment income replace_table_token_21_th interest from investments , which includes amortization of upfront fees and prepayment fees , increased from $ 90.4 million for the year ended december 31 , 2013 to $ 154.0 million for the year ended december 31 , 2014 , primarily due to the increase in the size of 59 our investment portfolio . the average size of our investment portfolio increased from $ 0.8 billion during the year ended december 31 , 2013 to $ 1.2 billion during the year ended december 31 , 2014. in addition , accelerated amortization of upfront fees primarily from unscheduled paydowns increased from $ 3.0 million for the year ended december 31 , 2013 to $ 12.5 million for the year ended december 31 , 2014. in addition , prepayment fees increased from $ 3.0 million for the year ended december 31 , 2013 to $ 21.0 million for the year ended december 31 , 2014. the accelerated amortization and prepayment fees primarily resulted from partial paydowns on three portfolio investments and full paydowns on five portfolio investments during the year ended december 31 , 2013 and from partial paydowns on two portfolio investments , full paydowns on thirteen portfolio investments and the expiration of one unfunded commitment during the year ended december 31 , 2014. other income increased from $ 2.2 million for the year ended december 31 , 2013 to $ 9.3 million for the year ended december 31 , 2014 , primarily due to higher syndication , amendment and agency fees earned during 2014. interest from investments , which includes amortization of upfront fees and prepayment fees , increased from $ 49.1 million for the year ended december 31 , 2012 to $ 90.4 million for the year ended december 31 , 2013 , primarily due to the increase in the size of our portfolio . the average size of our total investment portfolio at fair value increased from $ 417 million during the year ended december 31 , 2012 to $ 795 million during the year ended december 31 , 2013. in addition , prepayment fees increased from $ 0.9 million for the year ended december 31 , 2012 to $ 3.0 million for the year ended december 31 , 2013. these prepayment fees resulted from full or partial paydowns on portfolio investments . dividend income was $ 1.2 million for the year ended december 31 , 2012 due to the receipt of a dividend from a non-controlled , affiliated investment . there was no dividend income in the year ended december 31 , 2013. other income increased from $ 0.7 million for the year ended december 31 , 2012 to $ 2.2 million for the year ended december 31 , 2013 , primarily due to higher syndication , amendment and agency fees earned during 2013. expenses operating expenses for the years ended december 31 , 2014 , 2013 and 2012 were as follows : replace_table_token_22_th interest interest , including other debt financing expenses , increased from $ 10.5 million for the year ended december 31 , 2013 to $ 15.1 million for the year ended december 31 , 2014. this increase was primarily due to an increase in the weighted average debt outstanding from $ 266 million for the year ended

