CIT Group (CIT) announces it will redeem $1B more of its 7% Series A second-lien notes, putting...

|About: CIT Group Inc. (CIT)|By:, SA News Editor

CIT Group (CIT) announces it will redeem $1B more of its 7% Series A second-lien notes, putting it on pace to have eliminated a total of $14.5B of debt since the beginning of 2010. The firm's CEO says, "we continue to make great progress reducing our funding costs."