Mate Warehouse finance does not guarantee profitability and solvency. With all the credit enhancements they require they have full control over all receivables. Remember a bank provides protection with its umbrella only for a sunny day and once it starts raining it will withdraw its umbrella and recover all the dues.
Nearly one billion in capital (correct me if wrong) against a receivable of $ 600 million (Correct me if wrong) of receivable will be the main casualty.
APT Price at posting:
$66.55 Sentiment: None Disclosure: Not Held
