JARVIS, the rail maintenance and freight group, today announced that it has extended its existing loan facility.

The move by the York-based group sees its working capital facility with Burdale Financial - part of Bank of Ireland - and Bank of America extended until the end of January 2011.

The total asset backed loan facility has been reduced to £50m from £60m as it is secured on the group's assets, including receivables, which have reduced because of its lower workloads.

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