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 ...
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 ...
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 ...
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 ...
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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