BUSINESS BRIEFING / ENTERTAINMENT

Blockbuster Inc. said that its revolving and term loan agreement has been amended, giving the struggling company some breathing room on its finances amid a deepening recession and increased competition.

The video rental company had lined up tentative financing deals before the amendment, but cautioned last month that its auditor was likely to raise doubts about its ability to stay in business.

To that end, the Dallas-based company said lenders, including JPMorgan, have also agreed to waive any default that could result if auditors attached a “going concern” classification to their report on the company’s books for the recently completed fiscal year.