UPFRONT

Quebecor World Renews Program

MONTREAL—Quebecor World has renewed and amended its U.S. trade receivables securitization program. The $510 million program, which has been in place since 1999, has been extended through Sept. 28, 2005. The program has also been amended to give Quebecor World the option to extend the term of the program for an additional year. The renewal and amendment extend Quebecor World's liquidity horizon under the program to 24 months.