borrowings under the credit facility bear interest based on the daily balance outstanding at libor ( with no rate floor ) plus an applicable margin ( varying from 1.25% ( 1.25 % ) to 1.75% ( 1.75 % ) ) or , in certain cases a base rate ( based on a certain lending institution 2019s prime rate or as otherwise specified in the credit agreement , with no rate floor ) plus an applicable margin ( varying from 0.25% ( 0.25 % ) to 0.75% ( 0.75 % ) ) .the credit facility also carries a commitment fee equal to the unused borrowings multiplied by an applicable margin ( varying from 0.25% ( 0.25 % ) to 0.35% ( 0.35 % ) ) .the applicable margins are calculated quarterly and vary based on the company 2019s leverage ratio as set forth in the credit agreement .upon entering into the credit facility in march 2011 , the company terminated its prior $ 200.0 million revolving credit facility .the prior revolving credit facility was collateralized by substantially all of the company 2019s assets , other than trademarks , and included covenants , conditions and other terms similar to the company 2019s new credit facility .in may 2011 , the company borrowed $ 25.0 million under the term loan facility to finance a portion of the acquisition of the company 2019s corporate headquarters .the interest rate on the term loan was 1.5% ( 1.5 % ) during the year ended december 31 , 2011 .the maturity date of the term loan is march 2015 , which is the end of the credit facility term .the company expects to refinance the term loan in early 2013 with the loan assumed in the acquisition of the company 2019s corporate headquarters .during the three months ended september 30 , 2011 , the company borrowed $ 30.0 million under the revolving credit facility to fund seasonal working capital requirements and repaid it during the three months ended december 31 , 2011 .the interest rate under the revolving credit facility was 1.5% ( 1.5 % ) during the year ended december 31 , 2011 , and no balance was outstanding as of december 31 , 2011 .no balances were outstanding under the prior revolving credit facility during the year ended december 31 , 2010 .long term debt the company has long term debt agreements with various lenders to finance the acquisition or lease of qualifying capital investments .loans under these agreements are collateralized by a first lien on the related assets acquired .as these agreements are not committed facilities , each advance is subject to approval by the lenders .additionally , these agreements include a cross default provision whereby an event of default under other debt obligations , including the company 2019s credit facility , will be considered an event of default under these agreements .these agreements require a prepayment fee if the company pays outstanding amounts ahead of the scheduled terms .the terms of the credit facility limit the total amount of additional financing under these agreements to $ 40.0 million , of which $ 21.5 million was available for additional financing as of december 31 , 2011 .at december 31 , 2011 and 2010 , the outstanding principal balance under these agreements was $ 14.5 million and $ 15.9 million , respectively .currently , advances under these agreements bear interest rates which are fixed at the time of each advance .the weighted average interest rates on outstanding borrowings were 3.5% ( 3.5 % ) , 5.3% ( 5.3 % ) and 5.9% ( 5.9 % ) for the years ended december 31 , 2011 , 2010 and 2009 , respectively .the following are the scheduled maturities of long term debt as of december 31 , 2011 : ( in thousands ) .
[['2012', '$ 6882'], ['2013 ( 1 )', '65919'], ['2014', '2972'], ['2015', '1951'], ['2016', '2014'], ['total scheduled maturities of long term debt', '77724'], ['less current maturities of long term debt', '-6882 ( 6882 )'], ['long term debt obligations', '$ 70842']]
( 1 ) includes the repayment of $ 25.0 million borrowed under the term loan facility , which is due in march 2015 , but is planned to be refinanced in early 2013 with the loan assumed in the acquisition of the company 2019s corporate headquarters. .

Question: what was the percentage decrease in the weighted average interest rates on outstanding borrowings from 2010 to 2011
Answer: -34%
Explanation: the interest rate on the outstanding debt decreased by 34% from 2010 to 2011