New York, February 14, 2014 -- Moody's Investors Service ("Moody's") has upgraded the Corporate Family Rating for YRC Worldwide Inc. ("YRCW") from Caa3 to B3, following the successful closing of its refinancing transactions. In addition, Moody's revises the Probability of Default ("PDR") rating from Caa3-PD to B3-PD/LD ("Limited Default"), as it deems the conversion of $50 million of principal amount of the Series B Convertible Notes that took place as part of YRCW's refinancing transactions, a distressed exchange. Moody's will remove the "/LD" indicator after three business days. Moody's also changed the rating for YRCW's new $700 million first lien term loan to Ba3 from (P)Ba3, and raised YRCW's Speculative Grade Liquidity ("SGL") rating to SGL-3 from SGL-4. The rating outlook is stable.

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