Over the weekend, CIT filed for bankruptcy. This is the latest chapter in a saga that has significantly reduced the availability of capital for a wide variety of businesses. The general consensus seems to be that the bankruptcy isn’t going to make things much worse than they already are, and insiders point out that strong businesses should be able to get capital from sources other than CIT.
A couple of months ago, Panjiva’s clients began asking if we could help them identify which companies are exposed to CIT risk. Sure enough, we were able to use our data to spot companies that have a relationship with CIT. Below, you can see how we’ve built this into Panjiva’s intelligence platform. Note the “CIT Relationship” refinement on the left.