So are the credit markets really thawing? Well, it depends on who you are. Cisco certainly generated headlines for its successful $4 billion offering this week. The government's recent moves have definitely made people more receptive to top-rated companies, but that's not the case for ailing companies.

Bloomberg reports that Citi, JPMorgan Chase and Bank of America are cutting back on credit lines to companies that are not seen as up to par. For these companies, financing is as onerous and expensive as ever. The article notes JPMorgan, Citigroup and others cut Rite Aid's $650 million credit line $200 million after last month. It got a $225 million term loan arranged by Citigroup with annual interest payments of 15 percent. Ouch! 

For more:
- here's the Bloomberg article

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