Replies to post #1538 on CIT Group, Inc. New Common (CIT)

[Joe Stocks]

I-Man, Sorry that you are confused - WallStreet can be confusing to many.

Meredith Whitney is a stock analyst. She rates companies from "Sell to Buy". Yesterday she downgraded GS. Currently CIT has NO 'buy' ratings by any analyst.

In regards to CIT we were discussing 'credit' ratings. What are Credit Ratings? Credit ratings are published by Moody's, Standard & Poor's, Fitches and others. Credit ratings for a specific security issuer and their securities represent the rating company's evaluation of the credit worthiness of the issuing company. The following is what Moody's has to say about Credit Ratings: "The first thing you should know is that ratings are not investment recommendations. A bond rated Aaa is not necessarily "better" or "worse" than a bond rated Baa1, for example. Ratings are only one input you might consider in making your investment decision". That is something completely different. Here rating companies such as Moody's, S&P, and Fitch rate a comapny on the ability to service debt in the future.

With CIT their ratings have been lowered to junk and the ratings companies have indicated that it will take major restructing for them to rasie these ratings.

Hope this helps.