Voice and data services company Qwest Communications International Inc., scrambling to relieve a cash crunch, on Monday said it had amended its $4 billion bank credit agreement to allow it to carry a higher percentage of debt on its books.

... "It's a first step. It does help out that their lenders are willing to provide more room on the loan covenants, but the bankers are requiring that asset sales be used to pay down debt. So it doesn't appear that the bankers are providing a lot of leeway to Qwest." ...

Qwest and other high-speed communications companies have been battered by a glut of network capacity, scant demand in the weak economy, falling prices, and stiff competition.