- announced today the financial impact of yesterday's credit rating change from S&P. The credit rating is considered a trigger event under the credit agreement. This trigger event requires the company to collateralize its remaining unencumbered assets, which primarily include its real estate and revenue equipment. The company estimates the market value of these assets to be around $1.5B.

Other headlines for [YRCW]

• YRCW 12/30/1899 00:00am
  Yellow Roadway Corporation S&P adjusts creditwatch from negative to developing
  
• YRCW 12/30/1899 00:00am
  Yellow Roadway Corporation Cancels tender offer; in talks with banks on amendment- Key volume statistics for the fourth quarter-to-date as of November 30, 2008 compared to the same period in 2007 include - YRC National more...
  
• ODFL 12/30/1899 00:00am
  Old Dominion Freight Line Inc Cuts FY08 guidance EPS $1.73-1.76 v $1.85e ($1.90-1.95 prior)- CEO: The primary cause of our revision in guidance is weakness in tonnage, as well as the continuing competitive pricing environment. In more...
  
• 12/30/1899 00:00am
  (US) The air quality regulator in California has approved tighter rules for diesel truck emissions - WSJ- The approval was part of a plan to reduce pollution by 85% by 2022. - The rules will require more...
  
• CNW 12/30/1899 00:00am
  Con-Way Inc Guides FY08 $2.20-2.35 v $2.79e (had seen $2.60-2.80); reduced its nationwide workforce by about 8% or 1,450 positions- Company comments: With three weeks remaining to the end of the year, the more...
  

Industrials sector headlines

• NOC Today 03:01pm
  Northrop Grumman Corp Reorganizing cetain business- These actions, effective immediately, include streamlining its organizational structure, reducing the number of sectors from seven to five. The five sectors will be more...
  
• JBLU Today 02:07pm
  JetBlue Airways Corp Reports Dec Load Factor 79.4% v 76.8% y/y- RPMs -1.8% y/y - ASMs -5.1% y/y
  
• FR.FR Today 01:28pm
  Valeo SA Moody's lowers Long term rating cut to Ba1 fom Baa3; now junk status; affects €1.1B worth of debt
  
• NSANY Today 01:24pm
  Nissan Motor Co., Ltd Announces recall of 243K trucks and SUVs due to airbag sensor issues
  
• DAL Today 01:19pm
  Delta Air Lines Inc Reports Dec load factor 80.1% v 77.7% y/y- ASMs 9.78M (+0.7% y/y) - RPMs 12.2M (-2.4% y/y)