July 23 (Reuters) - Clothing retailer American Apparel Inc (APP.A) said it will restate its financial statements for the year ended December 31, 2008, to reclassify its revolving credit facility as a current liability.

American Apparel - "Natasha in the Tank Thong"

The restatement will result in an increase in current liabilities of $33.4 million and a corresponding decrease in long-term debt, the company said. American Apparel, which operates over 270 retail stores in 19 countries, said the restatement will have no impact on previously reported net income, revenues, comparable store sales, net cash flows and cash position.

In May, the company had said it may have to restate prior financial statements due to the classification of its revolving credit facility.

Shares of the Los Angeles-based company closed at $3.70 Thursday 23 July on the American Stock Exchange.

(Reporting by Mihir Dalal in Bangalore; Editing by Anthony Kurian)