Wednesday, December 22, 2010

YRC granted extensions on two lending arrangements

YRC Worldwide Inc. said Tuesday it received extensions on two lending agreements, allowing it to continue working on its restructuring plan through mid-2011.

The Overland Park-based trucking company said it received amendments on its credit agreement and asset-backed securitization program, extending deferrals on interest and fees though next May. The extension requires that YRC reach an agreement in principle to recapitalize its balance sheet by Feb. 28 and close that deal by May 13. Full Story...

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