Thursday, June 10, 2010

Itron Gets Expanded Credit Line

Liberty Lake, Washington-based Itron, a maker of smart meters for the electric and water utility market, said Wednesday that it has expanded its line of credit by $125 million. The firm said it now has a line of credit worth $240M, with an additional six banks involved in providing that line of credit. The firm said it has not yet tapped into that revolving line of credit. Itron has recently been gearing up for expansion of its manufacturing efforts of its smart meters, which are being heavily used in new smart meter deployments at electricity utilities. The firm's smart meters are being used in a number of electric meter retrofit programs nationwide.