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Arch cuts credit agreement

WASHINGTON ?Arch Capital Group Ltd. said it reduced one of its credit agreements to $141 million from $300 million.

In a regulatory filing with the Securities and Exchange Commission, Arch Capital also said it extended the loan's maturity date to Friday.

The loan is being provided by a group of lenders including JPMorgan Chase Bank (JPM), Bank of America NA, The Bank of Bermuda Ltd., The Bank of New York Co., Wachovia Bank and Barclays Bank PLC.

Arch Capital group also extended until Sept. 24 the termination date of its credit agreement with lenders led by Fleet National Bank, according to its filing.

Bermuda-based Arch Capital provides insurance and reinsurance through its units.