Moody's downgrades Yellow Corporation's CFR to Caa1 on refinancing risk; outlook stable
Moody's Investors Service (Moody's) downgraded Yellow Corporation's ("Yellow") corporate family rating ("CFR") to Caa1 from B3, probability of default rating to Caa1-PD from B3-PD and senior secured rating to B2 from B1. The outlook is stable. Moody's also downgraded the company's speculative grade ...YRC Worldwide is a holding company. Through its operating subsidiaries, the company provides its customers a range of transportation services. The company's reporting segments include: YRC Freight, which provides a range of services for the transportation of industrial, commercial and retail goods in national, regional and international markets, primarily through the operation of owned or leased equipment in its North American ground distribution network; and Regional Transportation, in which its service portfolio includes regional delivery, guaranteed and expedited delivery, interregional delivery, cross-border delivery, and hollandregional.com, newpenn.com, and reddawayregional.com.
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