Levi Strauss Says B of A Extends Line of Credit

Levi Strauss & Co. said Wednesday that Bank of America has extended its line of credit to $1.88 billion, a move that will aid the famed jeans maker in its effort to revive flagging sales and regain a shrinking market share.

Privately held Levi Strauss, which declined to specify its previous line of credit, said the extension will run for two years, until Jan. 31, 2002.

The announcement comes as the San Francisco-based apparel maker is in the midst of a battle against smaller labels that have eaten away at its market share and cut into its profit.