S&P Initiates Coverage On YRC Worldwide $400 Million ABL Facility With A ’1′ Recovery Rating

YRC Worldwide Inc. today announced that Standard & Poor’s Ratings Services has initiated coverage on the company’s asset-backed loan facility (the ABL Facility). The ABL Facility received a recovery rating of ’1′, the second highest recovery rating available, and a facility rating of B-. The ABL Facility rating is two notches above the YRC Worldwide corporate credit rating, the highest