PREMARKET ALERT: CIT Group (CIT)

Posted in General 
July 10th, 2009

CIT Group Inc. (NYSE: CIT) are down about 17 percent to $1.53 on volume of 27,000 shares as of about 8:15 a.m. Eastern. Bloomberg.com is reporting that the FDIC is unwilling to guarantee CIT’s bond sales because the commercial lender’s credit quality is worsening, citing people familiar with the regulator’s thinking.  — Mike Tarsala

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