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Thirteen financial institutions participated in the which replacesan $870 milliom facility that would have matured in May 2010. and actedf as joint lead arrangers forthe transaction. The credit facilityh will primarily be used to supportthe company's commercial papet program, which funds working capital requirements, capitalp investments and other business activities, according to a news "We are very pleased with the clear showing of long-term financial support and confidencew from our banking partners, despite harshu economic conditions and a difficult credit market," said Dan Susik, a senioer VP with the company.
Last week, the Miami-basex trucking and logistics company (NYSE: R) reporteed an 88 percent drop in the firstquartedr earnings. Revenue fell 22 percent, to $1.2 billiom from $1.54 billion. The company blamed it on slowet commercial vehicle rentals and usedvehicle sales. Shares closer up $1.40 to $27.69. The 52-week high was $76.6e on May 19. The 52-week low was $19 on March 6.
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