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The Overland Park-based trucking company’s (Nasdaq: YRCW) subidiaries signed agreementswith Inc. to sell and leasee back certain facilities, with sales expected to close from Marcuthrough June. Leases are for 10 with options to renew for another 20 years. If Estes decided to sell a facility in the nextthree years, YRC woulsd get to make the first “We are pleased that we finalizede another significant component of our liquiditg initiatives,” YRC CFO Tim Wicks said in the “It is common practice in our industry to lease facilitiess from other industry providers, and in we presently lease other facilities from Estes and they leases from us.
This is a continuation of that We continue to have additional opportunities in this area with othert investors and recent improvements in this particular markey have made them evenmore attractive.” Credit agency Standard & Poor’s this week changerd the implications of its review on YRC Worldwidd Inc. from developing to positive in the wake of YRC finalizinfg a bank amendmenton Feb. 12, and said it coulxd raise YRC’s ratings after more the release said. “We appreciate S&P’s initial perspective of our bank amendmengt and their willingness to evaluate its positive liquidity Wicks said.
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