HIT Entertainment has reached an agreement with lenders to amend and extend its credit to allow continued expansion at the company.
HIT, which produces such popular animated children’s programming as Thomas & Friends, Bob the Builder and Angelina Ballerina, was founded in the U.K. in 1989 and last year opened a film division in Los Angeles.
“We are delighted to conclude these negotiations with our lending group and are grateful for their support,” said Jeffrey Dunn, president and CEO of HIT. “This allows us to focus on what we do best – making great entertainment for kids.”
The company saw revenues increase to $249.2 million from $238.4 million in the 12 months ending July 31, 2009.
