Costs fall to insure debt of U.S. lender CIT
NEW YORK (Reuters) - The costs to insure the debt of U.S. lender CIT Group Inc fell on Monday, after a person close to the matter said the company may announce an agreement to get $3 billion of emergency financing from bondholders.
CIT's credit default swaps fell to about 40 percent as an upfront cost, down from about 44.5 percent late on Friday, according to Phoenix Partners Group data.
(Reporting by John Parry; Editing by Chizu Nomiyama)
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