YRC Worldwide Launches Credit Agreement Amendment
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YRC Worldwide (YRCW) Enters Amended Credit Agreement; Offers Q3 adj.-EBITDA, Op. Income Outlook
September 16, 2014 5:12 PM EDTYRC Worldwide (NASDAQ: YRCW) announced that it has launched an amendment to its Term Loan Credit Agreement (the "Credit Agreement") to revise its leverage ratio covenant from the third quarter of 2014 through the fourth quarter of 2016.
"During the first half of the year, revenue has kept pace with our forecast, however, the harsh winter season in the first quarter of this year and subsequent network inefficiencies at YRC Freight in the second quarter of this year resulted in lower than originally anticipated productivities," said James Welch, chief executive officer of YRC... More
