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.
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
SHOW LESS READ MORE >