The issue for me is the potential increase in bad debts on loan book and write down of PDLs. There is a big buffer to write down before a covenant is hit, but that's why it's down here at $10. Market is saying anything to do with distressed consumer sell now ask questions later. They have lots of payment arrangements and WW loans on direct debit with clients, so I don't think revenue will be hit as much as people may think. Sure, people will call up and ask for hardship, but with government wage replacememt cash in the works, those affected will have some capacity to pay rent, loans bills etc. I think they can easily ride it out of you looked at the costs etc, but like I said, the kicker is whether the value of the assets on the books are now inflated.
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