Sunday, January 15, 2012

CIT applies for to go bankrupt protect medium and small businesses of 950 thousand United States to will suffer an effect

usb harddrive enclosureBecause governmental minister and debt recombine failure, group of the Unit dog crates large strong ed States that has hundred years history's biggest CIT of orgnaization of loan of business of medium and small businesses 1 day of formal application goes bankrupt protection.



hans wilhelmCIT goes bankrupt case it is American history the 5th go bankrupt greatly case, before this company goes broke, its capital total is 71 billion dollar, debt total reachs 64.9 billion dollar.



brooch pinsThis company makes a statement say, reach in company creditor after agreeing, CIT group already went broke to federal of United States of the area austral new York the court applies for to go bankrupt protection. CIT president holds CEO concurrently Geoffrey Peike says in statement, application goes bankrupt protection will make the company continues to live after recombine, offer Wu of loan fund kimono for medium and small businesses and secondary market client. CIT group basically obtains fund through iss dvd discovery ueing bond and commercial cashier's cheque, but worsen ceaselessly because of market condition was being borrowed with sending a letter in year 2007, the financing source of the company is dried up with each passing day. Up to by this year March, the company is indebted be as high as 68 billion dol dog stairs lar, among t dvd discovery 3 hem debt of 2.7 billion dollar will this year the end of the year expires, and next year still will debt of 7.4 billion dollar expires first quarter.



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The end of the year transformed CIT group last year restrict a bank, from federally bad assets deliverance plans to obtain note endowment 2.3 billion dollar. Later, grade of this company debt is reduced to come " rubbish class " . In the past in 8 quarters, the defi dog crates large best buy cit total of this compa the best selling dog crates largeny the most popular selling dvd discovery already exceeded 3 billion dollar. This year first quarter, this company loss exceeds 500 million dollar, face heavy financing pressure. Because the company goes broke, the shareholder interest of CIT will by eliminate, the 2.3 billion dollar that American government invests for d dvd discovery 4 eliverance enterprise is likely also and full loss, medium and small businesses of about 950 thousand United States dog crates large dogs will be affected, american money market suffers certain concussion possibly also. Xinhua News Agency

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