CIT warns about bankruptcy, sees loss of $1.5 billion
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July 21st, 2009
| Category: Industry News
NEW YORK (Reuters) - CIT Group Inc secured a $3 billion loan facility from its bondholders on Monday and said it plans a comprehensive restructuring of its liabilities, but gave few details. With the emergency loan, the 101-year-old lender to small and mid-sized businesses warded off a threat ...Read More