CIT Group Widens Losses

October 16, 2008 11:14 AM |
CIT Group Inc. (NYSE: CIT) widened third quarter losses to $1.11 per share from 24 cents per share in the year ago period prompting Moody's Investor Service to place the financial services firm's Baal long-term and Prime-2 short-term ratings on review for a possible downgrade.  The stock price plummeted $1.77 to close at $2.91.

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