CIT Group emerges from bankruptcy and shares start trading on NYSE

By Devika Patel

Knoxville, Tenn., Dec. 10 - CIT Group, Inc. said it satisfied all of the conditions required under its plan of reorganization and has emerged from bankruptcy.

The company's new debt and equity securities have been distributed in accordance with the plan and the new common stock has begun trading on the New York Stock Exchange under the symbol "CIT."

CIT, a New York City-based provider of financing to small businesses and middle-market companies, filed for bankruptcy on Nov. 1.

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