CIT's moves signal firm is trying to avoid bankruptcy

08/10/2009 | MSNBC

CIT Group drew down the remaining $1 billion of a $3 billion credit facility and suspended its preferred dividend in a bid to avoid bankruptcy. Meanwhile, the company said it received an adequate number of offers to complete its repurchase program. CIT is one of the nation's biggest lenders to small and midsize businesses.

View Full Article in:

MSNBC