News

Atari Secures $15 Million Credit Facility

| 8 Nov 2006 14:44

The troubled publisher has signed a $15 million credit agreement with Guggenheim Corporate Funding, giving Atari a three-year secured revolving credit facility.

As Atari continues to sell off assets in order to avoid shutting down, the company has secured funds to continue operations.

"The Guggenheim facility provides Atari with the working capital flexibility to support our day-to-day operations," said president and CEO David Pierce. "Guggenheim is a prestigious financial partner and Atari looks forward to building on this partnership as we continue to execute on our strategy."

Atari's latest releases include Test Drive Unlimited for the Xbox 360 and Neverwinter Nights 2 for the PC. Both titles have struggled with release day issues surrounding missing features, bugs and performance problems.

Related to:
RELATED CONTENT
Comments on