CIT gets $3 billion lifeline from bondholders Jul 20, 2009 11:40PM

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. Read more

Wall St leaps on CIT aid; Texas Instruments off late Jul 20, 2009 6:16PM

U.S. stocks jumped on Monday, driving the S&P 500 to an eight-month closing high, after CIT Group Inc was thrown a lifeline to avoid bankruptcy, and investors bet corporate America would log another strong set of earnings this week. Read more

CIT Group on cusp of $3 billion rescue: source Jul 20, 2009 12:40PM

CIT Group Inc has clinched $3 billion of emergency financing from bondholders, keeping the struggling lender out of bankruptcy, a person close to the matter said. Read more

CIT reaches tentative $3 bln deal with bondholders Jul 19, 2009 10:16PM

CIT Group Inc has reached a tentative deal with a bondholder group for $3 billion in rescue financing, which the lender hopes will help it avoid bankruptcy, sources close to the situation said on Sunday. Read more

CIT's Plan A and Plan B were to seek government help: Obama official Jul 18, 2009 12:54PM

CIT Group, the U.S. lender caught in a liquidity crunch which may lead to a bankruptcy filing as soon as Monday, had planned for government assistance as a first and second resort, a senior Obama administration official said, according the Wall Street Journal. Read more

CIT in talks with JPMorgan, Goldman: source Jul 17, 2009 6:48PM

CIT Group Inc is in talks with JPMorgan Chase & Co and Goldman Sachs Group Inc about short-term financing as it looks for ways to avoid bankruptcy, a source close to the company said on Friday, sending the lender's shares and bonds up. Read more

CIT assets attractive but only to bargain hunters Jul 16, 2009 7:50PM

Many of CIT Group Inc's businesses, including trade and transportation finance, could be of interest to potential buyers as the commercial lender stares at the possibility of bankruptcy. Read more

CIT rushes to secure lending, bankruptcy feared Jul 17, 2009 10:08AM

CIT Group Inc was in discussions on Thursday with potential lenders to secure financing, after the collapse of rescue talks with the government left the company on the brink of bankruptcy. Read more

CIT says goverment bailout unlikely Jul 15, 2009 10:47PM

CIT Group Inc, a lender to small and mid-sized businesses, said late Wednesday talks with government agencies have ended and â€œthere is no appreciable likelihood of additional government support being provided over the near term.â€ Read more

CIT troubles could hurt; widespread impact uncertain Jul 13, 2009 8:34AM

Financial difficulties at commercial lender CIT Group Inc could hurt small businesses that depend on credit to fund their growth and operations, though many of CIT's units serve an important function and are unlikely to disappear if the company restructures in bankruptcy court. Read more