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YRC Worldwide and Its Lenders Agree to Extend Provisions under the Credit Facilities
YRC Worldwide today announced that it has finalized amendments of its credit facilities again that extend to October 30, 2009 certain provisions under the previous amendments. Specifically, the amendments extend the expiration of the revolver reserve amount, the suspension of the minimum liquidity covenant, and the due date for the asset-backed securitization commitment fee of $10 million. YRC and its lenders are still working on a long-term solution.
YRC Worldwide today announced that it has finalized amendments of its credit facilities again that extend to October 30, 2009 certain provisions under the previous amendments. Specifically, the amendments extend the expiration of the revolver reserve amount, the suspension of the minimum liquidity covenant, and the due date for the asset-backed securitization commitment fee of $10 million. YRC and its lenders are still working on a long-term solution.