The Collaborative International Dictionary of English v.0.48:

Fray \Fray\, v. t. [imp. & p. p. Frayed (fr[=a]d); p. pr. &
   vb. n. Fraying.] [See 1st Fray, and cf. Affray.]
   To frighten; to terrify; to alarm. --I. Taylor.
   [1913 Webster]

         What frays ye, that were wont to comfort me affrayed?
                                                  --Spenser.
   [1913 Webster]

WordNet (r) 3.0 (2006):

frayed
    adj 1: worn away or tattered along the edges; "frayed cuffs"

Moby Thesaurus II by Grady Ward, 1.0:

21 Moby Thesaurus words for "frayed":
   dowdy, down-at-heel, down-at-the-heels, frazzled, full of holes,
   holey, in rags, in shreds, in tatters, patchy, ragged, raggedy,
   ratty, scruffy, seedy, shabby, shoddy, tacky, tattered, tatty,
   torn