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CIT Group bonds fall sharply amid liquidity talks

NEW YORK
Mon Jul 13, 2009 11:03am EDT

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NEW YORK (Reuters) - Bonds of CIT Group Inc (CIT.N) fell more than 8 points on Monday after the U.S. commercial lender said on Sunday it remained in discussions with regulators on measures to improve liquidity.

CIT Group Funding Co of Canada's 5.2 percent notes due in 2015 fell to 54 cents from 62.6 cents on Friday, according to MarketAxess. CIT Group Inc's 5 percent notes due in 2014 fell to 48 cents on the dollar from 57 cents on Friday.

The Wall Street Journal reported over the weekend that the company had hired a top law firm to explore a possible bankruptcy filing.

(Reporting by Dena Aubin; Editing by Theodore d'Afflisio)


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