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Archive Home > 2009 > August > 18 > CIT avoids bankruptcy with debt purchase

CIT avoids bankruptcy with debt purchase


August 18, 2009

NEW YORK " Commercial lender CIT Group Inc. said Monday its offer to repurchase outstanding debt at a discount " a crucial step to help stave off bankruptcy " was successful. The embattled New York-based lender offered to buy $1 billion in debt that was set to mature Monday. CIT....

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