Yellow | YRC Worldwide restructuring delivers credit upgrade from Standard & Poor’s

[R-14Driver]

Standard & Poor’s Financial Services LLC has upgraded its corporate credit rating of YRC Worldwide Inc.bizWatch not long after a downgrade tied to the trucking giant’s financial restructuring.

Standard & Poor’s ratings agency on Tuesday changed its opinion of Overland Park-based YRC to “CCC” from “SD,” or selective default, and said the outlook was “stable.” CCC remains well within “junk bond” territory and is defined as the company being “currently vulnerable” and “dependent upon favorable business, financial and economic conditions to meet its financial commitments.” Standard & Poor’s also rated YRC’s convertible senior secured notes due in 2015 as “CC,” its lowest non-default rating.................

YRC Worldwide restructuring delivers credit upgrade from Standard & Poor’s - Kansas City Business Journal

 

[Elwood]

Standard & Poor’s Financial Services LLC has upgraded its corporate credit rating of YRC Worldwide Inc.bizWatch not long after a downgrade tied to the trucking giant’s financial restructuring.

Standard & Poor’s ratings agency on Tuesday changed its opinion of Overland Park-based YRC to “CCC” from “SD,” or selective default, and said the outlook was “stable.” CCC remains well within “junk bond” territory and is defined as the company being “currently vulnerable” and “dependent upon favorable business, financial and economic conditions to meet its financial commitments.” Standard & Poor’s also rated YRC’s convertible senior secured notes due in 2015 as “CC,” its lowest non-default rating.................

YRC Worldwide restructuring delivers credit upgrade from Standard & Poor’s - Kansas City Business Journal

Baby steps, its all about baby steps.
Maybe this should be in the "sunshine and lollipops" thread?