By  on July 21, 2009

Bondholders pulled the embattled lender CIT Group Inc. back from the brink of insolvency Monday with a $3 billion bailout deal, but the highly indebted company’s fight for long-term survival continues, leaving its vendor and retail clients to worry over future financing.


News of the capital injection, which CIT confirmed late Monday, boosted the firm’s shares on Wall Street. Investors cheered the additional breathing room and pushed the stock up 78.6 percent, or 55 cents, to $1.25 — still well below the $1.64 the stock fetched before the negotiations for a federal bailout failed. (For more on stocks, see page 14.)

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