In the announcement CCP have stated that they intend to " maintain the high service levels provided by CLH" . That does not sound like a poor operation to me - neither does the fact that they seem to have had long customer relationships with their clientele. Financial management was the issue with CLH much as it was with PNC both failed to properly recognise the changes required by the new regulations regarding accounting for PDL valuations. It appears to me that they have picked up a bunch of sticky loyal clients which are in short supply for peanuts. I would expect that they would know that they can match the service previously received. Disclaimer - I held CLH and PNC for many years during the good days.
CCP Price at posting:
$19.73 Sentiment: Hold Disclosure: Held
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