October 12, 2009 / 3:30 PM / 10 years ago

UPDATE 1-YRC says gets breathing room on credit covenants

* YRC says lenders amend portions of its credit agreements

* Says some terms extended through Oct. 30

* CEO sees long-term accord “in the very near term”

* Shares up 12 pct

BOSTON, Oct 12 (Reuters) - YRC Worldwide Inc (YRCW.O) said on Monday its lenders have agreed to amend portions of its credit agreements, buying the troubled U.S. trucker time as it negotiations a longer-term revision to its credit covenants.

Its lenders agreed to suspend its minimum liquidity covenant until Oct. 30, among other changes, the Overland Park, Kansas-based company said.

“We believe we will have a long-term solution with our lenders in the very near term,” Chief Executive Bill Zollars said in a statement.

The company last week said it was making another round of cost cuts, including asking employees to take unpaid leave, as it fights to maintain liquidity.

YRC shares were up 12 percent at $4.57 on the Nasdaq. (Reporting by Scott Malone, editing by Maureen Bavdek)

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