Atlas America amends loan to increase borrowing base by $10 million

By Sara Rosenberg

New York, Sept. 13 - Atlas America Inc. amended its $75 million revolving credit facility, effective as of this past Friday, increasing the borrowing base to $75 million from $65 million because of recent increases in reserves, according to an 8-K filed with the Securities and Exchange Commission Monday.

Wachovia is the lead bank on the Moon Township, Pa.-based energy company's credit facility.

"The increase will provide additional liquidity to grow the company's oil and gas reserves through acquisitions and drilling," a news release explained.

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