May 12, 2010 (FinancialWire) — Photronics, Inc. (NASDAQ: PLAB), a firm that supplies imaging technology solutions for the electronics industry, said that it has expanded its three-year revolving credit facility to $65 million from $50 million.

Photronics said in February that it had entered into a new $50 million credit facility with an expansion capability to $65 million, and that it had repaid all outstanding amounts of its previously existing credit facility and term loan. The company said that the new credit agreement provides for reduced interest rates and covenant amendments, collectively, to the benefit of Photronics.

Connecticut-based Photronics is a manufacturer of photomasks. Photomasks are high precision quartz plates that contain microscopic images of electronic circuits.

A key element in the manufacture of semiconductors and flat panel displays, photomasks are used to transfer circuit patterns onto semiconductor wafers and flat panel substrates during the fabrication of integrated circuits, a variety of flat panel displays and, to a lesser extent, other types of electrical and optical components.

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