Small-business lender CIT Group, facing bankruptcy, has a plan to cut its debt, but the plan likely would not make the company profitable, analysts said. The plan is to exchange about $31 billion in debt held by bondholders for new debt, to cut it by at least $5.7 billion, and extend debt maturities. Bondholders will vote on the plan. "There's still a high risk of bankruptcy down the road, even if the debt exchange is successful. The best course of action is for CIT to run its business off," said Adam Steer, an analyst at CreditSights.