Credit Corp in halt after scathing Checkmate Research report

Credit Corp in halt after scathing Checkmate Research report

Your debt buying company put its shares in a trading halt on Thursday, citing an report that is”anonymous on the stock. Credit Corp told the ASX it expects to produce an statement to your trade as a result into the report.

Street Talk knows the report being known by Credit Corp is written by Checkmate analysis and it is titled Credit Corp: A wolf in sheep’s clothes.

Credit Corp in a trading halt. Bloomberg

Credit Corp, that has a market capitalisation of nearly $900 million and operates in buying and gathering financial obligation and comes with a financing business, 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” in order to avoid being categorized as a payday lender.

“In our viewpoint Westpac probably will pull financing from CCP that will face the necessity to either quit its payday lending company or even urgently look for alternate capital. Both situations could be highly negative for CCP’s share cost,” the report stated.

“In our viewpoint Wallet Wizard can be breaking lending that is responsible by issuing loans to people that are maybe maybe not suitable.”