GEO Group expects to upsize existing facility this year using the accordion feature

By Sara Rosenberg

New York, Aug. 8 - GEO Group Inc. anticipates increasing its credit facility using the accordion feature sometime this year, according to a 10-Q filed with the Securities and Exchange Commission Friday.

The upsizing is anticipated as a result of the company's significant capital requirements for 2008 and 2009.

Currently, there is a $150 million accordion feature available under the facility.

GEO is a Boca Raton. Fla.-based provider of government-outsourced services in the management of correctional, detention, and mental health and residential treatment facilities.

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