Why YRC Worldwide (YRCW) Stock Is Up Today

NEW YORK (TheStreet) -- YRC Worldwide (YRCW) was gaining 17.8% to $23.32 Wednesday after launching an amendment to its term loan credit agreement.

The trucking company launched an amendment to its term loan credit agreement to revise its leverage ratio covenant from the third quarter of 2014 to the fourth quarter of 2016. The company launched the amendment "to take uncertainty out of the market and to allow the company to continue making progress on its performance and yield improvement plans," YRC Worldwide CEO James Welch said.

YRC Worldwide also said it expects to report adjusted EBITDA of $75 million to $80 million for the third quarter and operating of $22 million to $27 million for the quarter.

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YRCW Chart YRCW data by YCharts

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