With wide speculation surrounding the future of CIT, we have seen a significant spike in reports being pulled from our Credit Facility Database. Retailers such as Gander Mountain, Big 5 Sporting Goods, Loehmann's, Bon-Ton Stores, Border's Group, and Toys
Lanham, MD (PRWEB) July 21, 2009
Today, Creditntell announced that its Credit Facility Database has received a notable spike in inquiries amid CIT speculation. The Credit Facility Database is a key source of retail bank agreement details such as: participating banks, available credit, financial covenants, security and expiration dates. In addition to searching by banks and retailers, the database stratifies the entire content of retailer credit agreements by percentage available for borrowing under the various facilities and which agreements are closest to expiration.
Concurrently, Creditntell announced that it is providing temporary limited access to its enhanced Credit Facility Database this week for interested parties who would like to research bank agreements at http://www.creditntell.com/cnt/member/register.cfm.
Commenting on the Credit Facility Database, Larry Sarf, CEO at Creditntell and Information Clearinghouse, stated, "With wide speculation surrounding the future of CIT, we have seen a significant spike in reports being pulled from our Credit Facility Database. Retailers such as Gander Mountain, Big 5 Sporting Goods, Loehmann's, Bon-Ton Stores, Border's Group, and Toys "R" Us, who may look to borrow against commitments from CIT could be at risk of losing access to that portion of their credit facility. It is important to note that the CIT commitment often does not represent the entire line, or even a significant portion for many retailers, but it is nonetheless imperative that parties with vested interest get a better understanding of their indirect exposure to certain banks. By using our database, our subscribers can research retailers of interest, and the specifics about each company's credit facility to help determine if the retailer has adequate access to resources to finance its working capital requirements."
Mr. Sarf continued, "We were happy to learn that it appears CIT has been able to strike a deal with its major bondholders for temporary financing to allow it more time to negotiate upcoming debt maturities. CIT has a long and prestigious history, and it is a very important partner to many manufacturers and retailers alike."
Please visit http://www.creditntell.com/cnt/member/register.cfm if you would like a complimentary password to our website, including the Credit Facility Database.
Creditntell.com, a division of Information Clearinghouse Inc., is a comprehensive retail credit consulting firm specializing in the analysis of public and private companies in numerous retail segments. The focus of Creditntell.com's analysis is to deliver the key intelligence that today's busy credit executive needs to make a highly informed decision, without sifting through pages of non-essential data. Creditntell.com actively monitors retailers such as Sears Holdings, Best Buy, Rite Aid, and Bed Bath & Beyond, Toys 'R Us, Dick's Sporting Goods, Bon-Ton Stores, and Macy's. To learn more about the entire Creditntell.com service, visit the Company's website at http://www.creditntell.com.