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Reuters forecasts CIT bankruptcy – three weeks before it happened 11.01.2009 Reuters was the first news outlet to report on Oct. 12 that CIT Group was likely to file for bankruptcy because it was struggling to convince investors to swap their debt. The news clobbered CIT`s shares, resulting in a 11.5 percent decline. Reuters followed up with further stories as bankruptcy became more likely. Within three weeks of the original story, the company filed for bankruptcy on Nov 1. MARKET IMPACT The news clobbered CIT`s shares, resulting in a 11.5 percent decline. Reuters Firsts will need at least flash player 9 to give you the full experience. The latest Flash player can be downloaded here	firsts across any industry Commodities & Energy Energy, metals, agricultural and environmental markets FX & Money Markets Macroeconomics, monetary policy, FX and money markets Politics & Risk Politics and political risk Equity & Derivatives Companies, sectors, M&A and the financial industry Fixed Income Sovereign and corporate debt, credit, and ratings firsts by region Americas View stories from this region Europe / Middle East / Africa View stories from this region Asia View stories from this region Emerging Markets View stories from this region

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Reuters forecasts CIT bankruptcy – three weeks before it happened

11.01.2009

Reuters was the first news outlet to report on Oct. 12 that CIT Group was likely to file for bankruptcy because it was struggling to convince investors to swap their debt. The news clobbered CIT`s shares, resulting in a 11.5 percent decline. Reuters followed up with further stories as bankruptcy became more likely. Within three weeks of the original story, the company filed for bankruptcy on Nov 1.