SunPower Corp. (SPWRA) amended its credit agreement with Wells Fargo & Co. (WFC), increasing a collateralized letter of credit facility to $200 million from $150 million and removing an obligation to pledge an equity interest in one of its subsidiaries to secure part of the agreement.

According to a Securities and Exchange Commission filing, under the amended agreement, SunPower can request up to $200 million of collateralized letters of credit until March 27, 2014.

SunPower may also borrow up to $50 million under a revolving credit line and request Wells Fargo issue up to $50 million under a letters of credit subfeature until March 27, 2010.

The amendment removed an obligation by SunPower to pledge a 60% stake in its SunPower Systems Sarl subsidiary to secure up to $50 million in obligations under the credit pact.

SunPower shares closed Thursday at $25.79 and have not traded premarket.

-By Jerry A. DiColo; Dow Jones Newswires; 212-416-2155; jerry.dicolo@dowjones.com