Colorado Springs, Colorado-based Cray Computer Corp can continue operating for a few months longer after landing a $17.5m line of credit from Congress Financial Corp in return for a senior security interest on all the assets of the company – something that won’t please other creditors too much, although they would not likely get much back if the company were allowed to fail; Cray also had to provide a $5m letter of credit issued by Chase Manhattan Bank NA as additional collateral for Congress Financial; Cray can borrow up to $11.5m under terms of the agreement and up to an additional $6.0m once additional collateral has been provided.
