CIT

CIT SUFFERS DOWNGRADE WHILE IN TALKS WITH REGULATORS

The crisis at CIT, one of the largest US middle-market lenders, worsened yesterday as the company remained in talks with regulators over potential solutions to bolster its balance sheet and Moody's cut its credit rating deeper into junk territory.

Shares in CIT tumbled by 19.6 per cent in morning trade yesterday after a 17.7 per cent drop on Friday. Bonds issued by CIT and maturing in August were trading at 77 cents on the dollar.

The company is pressing regulators to end a six-month wait and allow it to issue government-backed bonds in an effort to allay mounting concerns over its financial health. The lender is also trying to win regulatory permission to transfer assets into its bank subsidiary to improve liquidity, CIT said yesterday, adding that it could make no assurances that either avenue would prove successful.

您已閱讀40%(828字),剩餘60%(1247字)包含更多重要資訊,訂閱以繼續探索完整內容,並享受更多專屬服務。
版權聲明:本文版權歸FT中文網所有,未經允許任何單位或個人不得轉載,複製或以任何其他方式使用本文全部或部分,侵權必究。
設置字型大小×
最小
較小
默認
較大
最大
分享×