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 breathing room to restructure its debt.
CIT secures $3 billion financing from bondholdersCourtesy Newsvine - business Mon, 07/20/2009 - 16:19
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 breathing room to restructure its debt. Related itemsPrivate rescue of CIT marks shift in crisis
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