CIT Group Inc. Outlook Revised To Positive On Improved Funding And Earnings; 'BB-' Long-Term Rating Affirmed Feb 13
- Language: English
- Published: February 2013
Standard & Poor's Ratings Services' ratings on CIT Group Inc. (CIT) reflect the company's strong position as one of the largest independent finance companies in the U.S., diversity within its commercial finance businesses, and moderate financial leverage. CIT has a high degree of diversity within the commercial finance sector. The company is the largest provider of receivables-factoring services in the U.S. and is among the leading competitors in vendor financing and aircraft and rail car leasing. CIT is also the largest provider of loans under the U.S. government's Small Business Administration (SBA) 7(a) loan program. CIT's financial performance in 2007 was negatively affected by its subprime mortgage business, which it exited during the latter half of the year. Valuation allowances,...
Companies mentioned in this report are: CIT Group Inc.
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CIT Group Inc.