Amid YRC Worldwide's announcement that it would extend the deadline on its debt-for-equity swap to Thursday night, the less-than-truckload carrier's lenders extended its credit agreement until Jan. 12, giving the company access to $950 million in credit

, the Journal of Commerce reports.

The newly revised credit agreement provides YRC with access to up to $50 million at any time, and suspends a minimum cash requirement, the publication says. The agreement also provides the company with a $111.5 million senior term loan, a Securities and Exchange Commission filing said.

The move essentially takes some of the pressure off the company, and gives the carrier some leeway in sorting out its debt-for-equity program.

The carrier pushed back the deadline for the exchange program for the third time from Dec. 15 to Dec. 17, at 11:59 p.m. Eastern time.

Under the debt-for-equity swap, YRC's latest effort to avoid bankruptcy, the carrier hopes to trade about $536.8 million in debt for about 95 percent of its equity. The effort, if successful, would put the company in a more solid financial position by improving its capital structure, decreasing its cash interest expense and enhancing its near-term liquidity, YRC said in a statement. But if unsuccessful, it could mean bankruptcy for the company.

As of Tuesday night, the company had tendered 75 percent of the aggregate principal amount of the outstanding notes.

According to the company, "it is pleased with the progress it is making on the exchange offer and will continue to work with noteholders to increase the level of support for the recapitalization, which the company commenced following several months of ongoing, active implementation of its comprehensive plan."

The initial deadline for the exchange was set for Dec. 7, but YRC pushed it back to Dec. 8 due to requirements by the SEC, the Kansas City Business Journal reports. If successful, the program would eliminate a third of the company's debt, the publication says.

Not everyone's happy about the debt-swap plans. According to a Bloomberg report, Teamsters President James Hoffa accused Goldman Sachs Group of creating derivatives trades that would benefit from YRC's bankruptcy.