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Asarco finds some footing but not on solid ground yet: CIT agrees to provide $75M working capital.

Publication: American Metal Market
Publication Date: 02-NOV-05
Format: Online
Delivery: Immediate Online Access
Full Article Title: Asarco finds some footing but not on solid ground yet: CIT agrees to provide $75M working capital.(CIT Group/Business Credit Inc., United Steelworkers union )(Brief Article)

Article Excerpt
NEW YORK -- Troubled U.S. copper producer Asarco Inc. has secured a $75-million working capital agreement with CIT Group/Business Credit Inc.

The Tucson, Ariz.,-based company, which filed for Chapter 11 bankruptcy protection in August, said Tuesday that the borrowings under the deal are limited to $20 million and are...

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