Crawford & Co. and its lenders have amended its existing credit agreement in a move company officials say gives it new flexibility and affirms its operational performance.

Under the agreement, Atlanta, Ga.-based Crawford earns an extension of the revolving commitments for two years, from Oct. 30, 2011, to Oct. 30, 2013.

Crawford may increase the aggregate amount of its debt under the credit agreement by up to $50 million and may also issue other, unsecured debt of up to $200 million, according to the amendment.

Jeffrey T. Bowman

It also updates certain covenants to allow for this additional flexibility and access to capital, while upwardly revising applicable interest rates, Crawford officials said in a statement.

“We believe the amendment to our credit facility is a reflection of our solid operational performance,” said Jeffrey T. Bowman, Crawford president and chief executive officer. “It increases our financial flexibility and should help us continue to effectively manage our operations going forward. We are pleased with both the immediate and potential future implications of this amendment.”

Crawford is the world’s largest independent provider of claims management solutions to the risk management and insurance industry, as well as self-insured entities, with a global network of more than 700 locations in 63 countries.