CIT Group Set to Join S&P MidCap 400 and Tanger Factory Outlet Centers to Join S&P SmallCap 600

NEW YORK, Jan. 21, 2020 /PRNewswire/ -- CIT Group Inc. CIT will replace Tanger Factory Outlet Centers, Inc. SKT in the S&P MidCap 400 and Tanger Factory Outlet Centers will replace McDermott International, Inc. MDR in the S&P SmallCap 600 effective prior to the open of trading on Monday, January 27. McDermott International announced it will file today to reorganize under Chapter 11 of the U.S. Bankruptcy Code.

CIT Group Inc. provides banking and related services to commercial and individual customers. Headquartered in New York, NY, the company will be added to the S&P MidCap 400 GICS (Global Industry Classification Standard) Regional Banks Sub-Industry index.

Tanger Factory Outlet Centers operates and owns, or has an ownership interest in, a portfolio of 39 upscale outlet shopping centers. Headquartered in Greensboro, NC, the company will be added to the S&P SmallCap 600 GICS Retail REITs Sub-Industry index.

Following is a summary of the changes:

S&P MIDCAP 400 INDEX – January 27, 2020
	COMPANY	GICS ECONOMIC SECTOR	GICS SUB-INDUSTRY
ADDED	CIT Group	Financials	Regional Banks
DELETED	Tanger Factory Outlet Centers	Real Estate	Retail REITs

S&P SMALLCAP 600 INDEX – January 27, 2020
	COMPANY	GICS ECONOMIC SECTOR	GICS SUB-INDUSTRY
ADDED	Tanger Factory Outlet Centers	Real Estate	Retail REITs
DELETED	McDermott International	Energy	Oil & Gas Equipment & Services

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