Moody's Investors Service published a special comment today discussing the implications of a possible bankruptcy of the CIT Group Inc. on sixteen ABS transactions where CIT, through its subsidiaries, acts as the servicer, master servicer, administrator, or servicing administrator.

The special comment describes the risks associated with servicing disruption, presents a framework which the agency employs to evaluate the likelihood and extent of servicing disruption in the affected transactions, and summarizes Moody’s current view of strengths and concerns around servicing disruption risk in CIT-serviced ABS.  

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