NEW YORK — YRC Worldwide Inc. said Monday that it has amended a credit facility that will increase the amount the trucking company can borrow in the second quarter.
But the Overland Park, Kan., company said its liquidity is still being pressured by the high daily cost of running its business.
But the news sent shares as high as 27 cents in early trading, but were up 2 cents at 25 cents in afternoon trading.
Under the credit line’s old terms, the company had just $22 million more to borrow as of Friday. But the company didn’t provide a new figure.
The company was thought to be within days of filing for bankruptcy protection in December, but has gained some steam since that time as the economy began to mend.
YRC said it’s considering several possible steps to boost its liquidity including more cost cuts, more attempts to work with lenders to negotiate loan payments or the sale of assets or business lines.
Kevin Jones of The Trucker staff can be reached for comment at email@example.com.
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