NEW YORK -- Commercial lender CIT Group Inc. confirmed late Monday that it has secured a $3 billion bailout from its bondholders, averting an immediate bankruptcy filing and giving the company some ...
WASHINGTON -- With bondholders coming to the rescue of troubled commercial lender CIT Group Inc., and not the government, a new reality is setting in for investors. With federal bailouts drying up and ...
Had CIT been allowed to collapse, some experts feared it would have dealt a crippling blow to an economy still bleeding hundreds of thousands of jobs a month despite a nearly $800 billion federal ...
CIT said the rescue includes a $3 billion secured term loan with a 2.5-year maturity, which will ensure that its small and midsized business customers continue to have access to credit. Term loan ...
Commercial lender CIT Group Inc. confirmed late yesterday that it has secured a $3 billion bailout from its bondholders, saving the company from filing for bankruptcy protection. It's a new twist in ...
The retail sector would have been hit especially hard. CIT serves as short-term financier to about 2,000 vendors that supply merchandise to 300,000 stores, according to the National Retail Federation.
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