YRC Worldwide Inc (YRCW)

[MagicCap]

News out from S&P:
http://www.reuters.com/article/2012/10/17/idUSWNA774520121017

While they said that there are still doubts about ability to repay debt due 2 years from now, they're also actually acknowledging some positive developments. For a stock priced at a ridiculously low valuation any whiff of good news will send this much higher.

"However, the company's operating performance and liquidity have
improved over the last few quarters and we could raise the ratings if YRC
Worldwide Inc. addresses its significant debt maturities in 2014, maintains
adequate covenant cushion, and operating performance continues to strengthen
despite a sluggish economy."

I kind of like the fact they're acknowledging that operations have improved. I'm not so sure the market is pricing this in with the stock trading at 0.01 times sales (vs 0.30 to 0.60 on others in the industry). They very well could maneuver through this period, extend maturities again, and return to profitability. If that happens the stock will be up ten fold.