Wednesday, March 11, 2009

Rackspace Pays Down Credit Line

San Antonio-based Rackspace Hosting said Wednesday afternoon that it has repaid $100M in a revolving line of credit from Comerica Bank, JPMorgan Chase, Wachovia Bank, Bank of America and The Frost National Bank. The firm did not give reasons for the move, but said that it has reduced its outstanding balance on the line of credit to $100M.