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Moody's places CIT Group ratings on review for upgrade

Moody's placed on review for possible upgrade the Ba3 ratingof CIT Group Inc. andsubsidiary CIT BankNA following the announcement that CIT Group agreed to sell its aircraft leasing businessto Avolon HoldingsLtd.  

The review reflects the positive effects the sale of CITCommercial Air is expected to have on CIT Group's risk profile. Those effectsinclude a decrease in volatile market funding, a reduction in lease residualrisks, simplification of operations and organizational structure, andelimination of forward aircraft purchase commitments and associated lease-upand financing risks.