CIT Lending Profile

sinking dollarIt appears that the Obama administration is firm about its decision to let the “chips fall where they may” with CTI Group, which was a major lender of DIP loans which were made to riskier business borrowers.

A review of their lending profile is very revealing in that it is made up of 58.77% of defaulted loans. Its latest transaction was to Eddie Bauer last week in the amount of $100 million line of credit. Eddie Bauer has had its problems in the last few years as it has just filed for its second Chapter 11 reorganization in the last six years.

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