Your debt buying business put its stocks 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 into the trade as a result to your report.
Street Talk understands the report being known 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
Credit Corp, that has an industry capitalisation of very nearly $900 million and operates in buying and debt that is collecting has also a financing company, declined to comment whenever contacted by this line.
The Checkmate report claims Credit Corp is a payday lender and claims its Wallet Wizard company utilizes a “loophole in legislation” to prevent being classified being a payday lender.
“In our viewpoint Westpac will probably pull capital from CCP that will face the necessity to either quit its payday lending company or even urgently look for alternate money. Both situations could be strongly negative for CCP’s share price,” the report stated.
“In our viewpoint Wallet Wizard can be breaking lending that is responsible by issuing loans to those who are perhaps not suitable.”