Credit Corp in halt after scathing Checkmate Research report

Credit Corp in halt after scathing Checkmate Research report

The debt buying business put its stocks in a trading halt on Thursday, citing an “anonymous report” on the stock. Credit Corp told the ASX it expects in order to make an statement into the trade in reaction towards the report.

Street Talk understands the report being described by Credit Corp is created by Checkmate analysis and it is en titled Credit Corp: A wolf in sheep’s clothing.

Credit Corp in a trading halt. Bloomberg

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Credit Corp, that has an industry capitalisation of very nearly $900 million and operates in buying and gathering financial obligation and even offers a financing company, declined to comment whenever contacted by this line.

The Checkmate report claims Credit Corp is really a payday lender and claims its Wallet Wizard company hinges on a “loophole in legislation” to prevent being categorized being a lender that is payday.

“In our viewpoint Westpac probably will pull financing from CCP that will face the necessity to either quit its payday lending company or even to urgently look for alternative capital. Continue reading “Credit Corp in halt after scathing Checkmate Research report”