The road ahead for Credit CorpThere have been a couple of interesting developments over the past 12 months for Credit Corp. The first of these is that their two listed domestic competitors; Collection House (CLH) and Pioneer Credit (PNC) will find access to capital more challenging in the future. Collection House has resorted to an unconventional funding arrangement with a US hedge fund whereby they sell future cash flows for an upfront payment. Meanwhile Pioneer will find it tough to raise equity while its accounting policies are under question.
Implications?
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