Rite Aid increases credit line by $250 million

NEW YORK Rite Aid on Sept. 18 increased its credit line to $650 million, from $400 million, according to a document filed with the Securities and Exchange Commission Wednesday.

Specifically, the new agreements with Citibank and Wachovia Bank increased the company’s credit lines to $325 million and $200 million, respectively.

The termination date of the receivables financing agreement was also extended to Sept. 16, 2008, and the availability of the backstop amortization facility that is provided by the investor agents and related banks was extended to September 2010.

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