Important News – Oct. 14
1) Pimco Has Quit CIT Bondholder Steering Committee “NEW YORK (Dow Jones)–The future of CIT Group Inc. (CIT) grew murkier Wednesday after the disclosure that bond fund giant Pacific Investment Management Co. had quit a steering committee that’s trying to prevent the commercial lender from collapse… The move was seen as another blow as CIT struggles to end months of uncertainty about its future. The century-old lender is scrambling to convince creditors to back sweeping debt restructuring, or
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Tags: Credit, Debt