RaaS are only looking at the metrics and I have to say on face...

RaaS are only looking at the metrics and I have to say on face value they are not too bad at all with the exception of the amount of debt. I thought that the reduction in the funding facility rate would have done something for the SP but it was just a short term spike and now back again to more or less mirror the NTA. There are image problems within the industry. The damage of the liquidation of CLH had not left the industry before Panthera decided to pullout in a cloud of controversy over problems in Victorian operations. In an uncertain economic climate this hardly helps give confidence to investors. Coupled with this is the current difficulty of PDP volumes which are available to purchase. Banks and lenders in general are currently expected to be more tolerant of debt arrears and are expected to make more effort to assist a borrower in trouble than they were in pre-Covid times. Pre-covid they were not all that tolerant and virtually did not run a collection department within their system. As far as I know they still don't it is left to individual branch and regional managers to make such decisions based on current bank policy on debt arrears and ratios. This has reduced the number of PDPs becoming available (particularly the relatively quality ones). RaaS have very little to say about these important Macro matters except to point out that maybe they favour the quality system policies of debt assistance which PNC offer. Look no further than the struggling SP of CCP to see how it is affecting the industry as a whole. I still think that any real rerate will come when the debt is lowered and much more profitability is restored and shown in the accounts. I am still holding despite a small amount of lost opportunity.