Take-Two expands credit to $140 million

Grand Theft Auto publisher Take-Two has expanded its credit facility from USD 100 million to USD 140 million, with USD 25 million available for the UK business.

The credit will be used to get the publisher through the coming Christmas season and into the new year, and lenders once again include Wells Fargo Foothill and Citigroup.

"Our credit facility will support our periodic working capital needs during the busy holiday season and beyond," commented Ben Feder, CEO of Take-Two.

"We look forward to further strengthening our financial position with the release of our solid 2008 product slate, including Grand Theft Auto IV in our fiscal 2008 second quarter," he added.

Take-Two's UK outfits include Grand Theft Auto IV developer Rockstar North, Rockstar Leeds, the studio responsible for GTA games on the PSP, and the European headquarters at Rockstar London.