I suspect that Credit Corp were willing to provide that loan to get the deal over the line; they upgraded guidance twice after buying CLH's PDLs so it looks like they got a decent deal and/or they are better at collections than CLH.
The note from CCP on the 24th of Dec indicated that they expect to be fully repaid in 9 mths so we may see something in the upcoming 4C, but worse case scenario for CCP would be they could offset the loan against the 15m in contingent consideration they have agreed to (again I suspect that CCP will outperform their expectation on collections so this will be payable at some stage).
CCP are all about long term returns......CLH are in a fight for life IMO....I can't see any signs they are executing on anything other than paying mgmt
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I suspect that Credit Corp were willing to provide that loan to...
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