Report: Rite Aid receives $290 million loan from GE Capital

NORWALK, Conn. Drug store operator Rite Aid Corp. received a commitment for a $290 million loan from GE Capital, the lender said Wednesday.

The General Electric Co. finance unit said it will contribute the money to Rite Aid's $1 billion revolving line of credit. Rite Aid operates 4,900 retail pharmacies in 31 states and the District of Columbia.

In June, Rite Aid completed a refinancing of most of its debt that was due in September 2010, and took out a new $1 billion credit facility that expires in 2012.