CIT: Second Take - Ticking Takeover or Time Bomb? - Company Article - 2008/04/07 - CreditSights

Report title: CIT: Second Take - Ticking Takeover or Time Bomb?

from CreditSights
3209 word report published Apr 07, 2008

Price $150.00 available for immediate download HTML

Report Overview

Search Inside

Abstract: CIT has staged a powerful rally and we continue to see a takeover as the most likely endgame although the company's stated plan raises concerns.

Brief Excerpt: CIT: Second Take - Ticking Takeover or Time Bomb? We revisit potential scenarios for CIT a couple weeks after its bank line drawdown Credit instruments have staged a powerful rally, but the company's current plan still poses significant...

Report Type: Company Article
Source: CreditSights Inc
Free Sample: Click Here to Download

Enter the keyword(s) which you would like to search for within this document and click "Search"

Also from CreditSights

CIT Group 1Q09 Tearsheet $150.00
CIT: 1Q09 Misses, Profit Hopes Dashed $150.00
CIT missed consensus by a large margin as asset quality and margin pressure weighed heavily on results. The company no longer expects to be profitable in 2009, but it believes the worst of the credit provisioning has past.
Crossing the Chasm Part 1 $150.00
The risk of IG credits crossing into HY is rising at a time when the cost of doing so is at an all time peak. We begin a multi-part analysis of which angels are likely to fall in 09 with a look at US financial services.
CIT 4Q08 Below: It's Not Easy Being a Bank $150.00
CIT is circling the wagons around its new bank status and seeking additional government support while credit and margin pressures seem a constant reality going forward
US FinCo '09 Outlook: Survival is Spelled B-A-N-K? $150.00
The US Specialty Finance sector looked like "dead man walking" in 2008, but a recent barrage of government support actions points to an attractive risk/reward profile in early 2009
CIT Group: Commences Exchange Offer to Bolster Bank Bid $150.00
CIT launched two exchange offers to raise capital in support of its bank holding company application. Bondholders must weigh taking some cash and a higher coupon for structural subordination
CIT 3Q08 Misses: Liquidity is Everything, Left out in the Cold from Government Support? $150.00
CIT's headline miss looked better excluding a goodwill impairment, but funding ability remains severely challenged coupled with deteriorating credit quality
CIT: Are Bank Deposits the Way to Bondholder Bliss? $150.00
CIT displayed heightened deposit gathering ambitions at an investor conference as the specialty lender also touted bondholder friendly actions including bolstering capital and boosting liquidity/funding sources

CreditSights
CreditSights is an independent research platform comprised of a team of analysts with both buy-side and sell-side experience in the U.S. and overseas. CreditSights' research focuses on global corporate and sovereign issuers, which have securities that are actively traded in the corporate bond, credit derivatives and/or equity-linked markets. Sector coverage is broad-based and includes telecom, technology, and media; autos and general industrials; utilities and energy; financial services; commodity cyclicals; retail and consumer products; and aerospace and defense. Emerging markets coverage includes the major Latin American, Asian and Eastern European countries. The focus of CreditSights research is to help investors make decisions by distilling and interpreting significant developments and specific events affecting individual companies, industries, or the securities markets as a whole.

Price: $150.00

Free Sample

Questions about
this research?

Send to a friend